Grayscale Investments has filed for an exchange-traded fund tied to Worldcoin, the cryptocurrency project co-founded by Sam Altman. The filing, submitted to the SEC, sent the Worldcoin token (WLD) up 8% in a single day.
What the filing covers
The proposed ETF would track the price of WLD, giving investors a regulated way to gain exposure without buying the token directly. Grayscale already runs similar products for Bitcoin and Ethereum. This is its first push into a token that's drawn both hype and regulatory scrutiny.
Worldcoin's model relies on iris scans to verify users are human, a system that's raised privacy questions in several countries. The token itself launched in 2023 and has seen wild price swings. Grayscale's filing suggests the firm sees enough demand — and enough regulatory clarity — to bring WLD into a traditional fund structure.
Why the token jumped
The 8% gain came as broader crypto markets showed signs of recovery. Bitcoin and Ethereum were both up on the day, but WLD outperformed. Traders pointed to the Grayscale news as the catalyst. The filing signals institutional interest in a token that's often been dismissed as a novelty.
It's not the first time a filing has moved WLD. In November, a similar rumor pushed the token up 10% before settling. This time the filing is real, and the market is reacting accordingly.
The SEC has 45 days to review the filing, with a possible extension. Grayscale will need to address concerns about Worldcoin's data collection practices and the token's liquidity. The regulator has been cautious about crypto ETFs, approving only Bitcoin and Ethereum products so far.
If approved, the ETF would trade on a major exchange, likely NYSE Arca or Nasdaq. Grayscale hasn't said which exchange it's targeting. The firm also hasn't disclosed the ticker or expense ratio.
For now, the market is betting on approval. WLD holders are watching the SEC's next move. The clock is ticking.
