Grayscale could take Worldcoin to Wall Street after ETF filing with the SEC

The first exchange-traded fund tied to Worldcoin (WLD) could soon be headed to U.S. markets.

On Monday, Grayscale filed with the Securities and Exchange Commission a registration statement for the Grayscale Worldcoin ETF. The fund would hold WLD, the native crypto of the World Network, the firm said in the filing.

"As a passive investment vehicle, the Trust’s investment objective is for the value of the Shares (based on WLD per Share) to reflect the value of WLD held by the Trust, determined by reference to the Index Price, less the Trust’s expenses and other liabilities," Grayscale said in the filing.

If launched, the ETF would trade on The Nasdaq Stock Market LLC under its generic listing standards. The Bank of New York Mellon would serve as transfer agent, while BitGo Bank & Trust, N.A. would act as custodian, according to the filing.

The WLD token has $1.3 billion in market capitalization, making it the 57th largest crypto by market cap.

Worldcoin, later rebranded as World, is a company cofounded by OpenAI CEO Sam Altman that focuses on biometric identification, crypto, and blockchain. The company uses a decentralized digital passport to verify people as well as a spherical device to scan people's eyes to verify their identity.

The filing marks Grayscale's latest effort to expand its lineup of crypto investment products. The asset manager previously converted its flagship bitcoin trust into an ETF after prevailing in a landmark legal challenge against the SEC. It has also launched ETFs tied to Ethereum and filed funds linked to other cryptocurrencies, including Dogecoin, Solana and Chainlink.