Grayscale filed an S-1 with the SEC on Monday to launch the first US ETF backed by Worldcoin, the biometric project co-founded by Sam Altman. The fund would hold the WLD token and track its price through the CoinDesk Worldcoin Benchmark Rate, with a planned listing on Nasdaq under the ticker GWLD. In the 24 hours after the filing, WLD jumped 8% to an intraday high of $0.387, even as it stayed down roughly 5.5% on the week.
Key Takeaways
- Grayscale is targeting the first spot ETF backed by Worldcoin (WLD), filed for a Nasdaq listing under the ticker GWLD.
- WLD gained 8% in 24 hours, reaching $0.387, despite a week that remained down 5.5%.
- The filing extends Grayscale’s altcoin push, following filings already made for Dogecoin, Solana, and Chainlink.
A WLD Fund Aimed at Nasdaq Under the GWLD Ticker
The filing takes the form of a standard S-1, the document any issuer must submit before launching a listed product. The details sit in the S-1 registration statement Grayscale filed with the SEC, which calls for a Nasdaq listing under the generic listing standards reserved for commodity-based trusts.
The future GWLD would be a passive vehicle. It would hold only WLD, the native token of the World Network, and track its price through the CoinDesk Worldcoin Benchmark Rate. Custody would go to BitGo Bank & Trust, with Bank of New York Mellon as transfer agent, an institutional setup that mirrors the standards already tested on Bitcoin and Ethereum ETFs.
WLD remains a mid-sized asset. Its market cap sits around $1.3B, ranking it 57th among cryptocurrencies. The token powers World, the rebranded Worldcoin co-founded by OpenAI chief Sam Altman, whose model relies on an iris scan through a spherical device to verify identity and issue a decentralized digital passport.
The market reaction was immediate but measured. The 8% gain to $0.387 does not erase the weekly decline, a sign that buyers stayed cautious. Still, the pop contrasts sharply with Arthur Hayes dumping his position in early June, which had driven the token lower and exposed how exposed WLD is to large holders.
Why Grayscale Is Pushing Deeper Into Altcoins
The Worldcoin filing is not a one-off. Grayscale converted its Bitcoin trust into an ETF after its legal win against the SEC, launched Ethereum ETFs, then filed for products tied to Dogecoin, Solana, and Chainlink. The firm is methodically building a lineup that reaches well beyond the two dominant assets.
That pace answers a regulatory climate that has turned friendly again. Since Donald Trump’s return, the SEC has withdrawn enforcement actions, approved staking-enabled ETFs, and streamlined listing standards. Grayscale is moving through that window, the same momentum that saw the firm listed among the issuers cited when Hyperliquid’s HYPE set a fresh record above $60.
The trade-off is a crowded calendar. Every issuer is pushing its own products, and the stream of filings on increasingly niche altcoins dilutes investor attention. A Worldcoin ETF has to exist above all to capture demand that, for now, still comes largely from self-directed investors rather than advisors.
For Grayscale, the point is to stay at the front of the pack. Claiming ground early on an asset like WLD means positioning to capture the first flows if institutional appetite firms up, while keeping a step ahead of BlackRock, Bitwise, or 21Shares on this specific segment.
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What Approval Would Change for WLD
In the short term, the most tangible effect would be a simpler access channel. An ETF would let traditional investors gain exposure to WLD without managing a wallet or an exchange, much like the $96M pulled in by Ethereum ETFs under BlackRock’s lead once the product found its audience.
Over three to six months, an SEC green light would anchor WLD in the category of altcoins deemed eligible for a listed product, a legitimacy signal that matters for a still-young token. Liquidity and order-book depth would strengthen if steady flows fed the fund.
The main obstacle remains Worldcoin’s own profile. Collecting biometric data through iris scans has earned the project suspensions and investigations in several countries, a regulatory risk the SEC cannot ignore as it reviews the product. The sensitivity of the topic runs deeper than the plain mechanics of a crypto ETF.
The next step now sits with the regulator. The filing opens a review period whose outcome and timing stay uncertain, and the market will read every SEC signal as a gauge of its tolerance for niche altcoins. WLD, for its part, has already shown it reacts fast to any catalyst.
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