Grayscale filed an S-1 registration statement with the Securities and Exchange Commission on Tuesday for a Worldcoin exchange-traded fund that would trade on the Nasdaq under the ticker symbol GWLD. The filing marks the asset manager's latest push to bring a spot crypto ETF to market, this time tied to the iris-scanning digital currency project.
The Filing Details
The proposed ETF, officially named the Grayscale Worldcoin ETF, would hold WLD tokens directly. The S-1 is a standard first step in registering a new securities product with the SEC. Grayscale did not disclose a target date for the fund's launch, and the SEC has not yet set a review timeline. The filing comes as the firm continues to expand its lineup of single-asset crypto trusts and ETFs.
Price Reaction
News of the filing sent WLD's price up roughly 4.5% to $0.37, according to CoinGecko data. The token saw a brief spike in trading volume after the announcement, though the move was modest compared to its earlier swings. The rally was short-lived, with WLD giving back some of the gains within hours.
The Distance from the Peak
Despite the bump, WLD remains 97% below its all-time high of $11.82, reached in March 2024. The token has struggled to maintain momentum since the broader crypto market cooled and regulatory scrutiny around Worldcoin's data collection practices intensified. The project, which uses iris scans to verify user identity, has faced bans in several countries over privacy concerns.
The SEC will now review the S-1 filing, a process that can take months. The agency has not yet approved a spot crypto ETF tied to Worldcoin or any token other than Bitcoin and Ethereum. Grayscale's existing Bitcoin and Ethereum ETFs won approval after lengthy legal battles. Industry observers expect a similar uphill climb for GWLD, though no official timeline has been set for a decision.
