Grayscale has submitted an application to the US Securities and Exchange Commission (SEC) aiming to launch the first Worldcoin (WLD) exchange-traded fund (ETF) in the United States. If approved, this ETF would provide direct exposure to WLD tokens on the Nasdaq under the ticker “GWLD”.
Details of the ETF Application
The S-1 filing reveals that the Grayscale Worldcoin ETF intends to hold WLD tokens directly without the use of derivatives or use, following a passive investment strategy. Custody services for the fund would be managed by BitGo Bank & Trust. This would allow investors to access Worldcoin through a regulated product rather than purchasing the tokens outright.
Market Reaction and Implications
The announcement triggered a 4-5% price increase in WLD on the day of the news. Analysts suggest that an approval could accelerate institutional adoption of Worldcoin. This application raises Grayscale’s total cryptocurrency ETFs to 18, adding to its portfolio that already includes Bitcoin, Ethereum, XRP, Solana, Dogecoin, and Chainlink.
Spot ETFs for altcoins such as XRP, Solana, and HYPE have previously launched in the US, expanding beyond Bitcoin and Ethereum options. Grayscale’s move marks a notable extension into a controversial altcoin with growing market interest.
This article is for informational purposes and does not constitute financial advice.
