On Monday, crypto asset manager Grayscale initiated a move to expand its growing portfolio of exchange-traded products by submitting an S-1 registration statement for the first Worldcoin ETF in the United States. The proposed fund is designed to give investors a way to gain exposure to the WLD token via a regulated, exchange-traded product. This filing represents an expansion of Grayscale's product line, which already includes offerings for cryptocurrencies beyond Bitcoin and Ether.

According to the preliminary prospectus, the Grayscale Worldcoin ETF is intended to be listed on the Nasdaq under the ticker symbol GWLD. A number of key roles have been designated for the fund's operation. Custody of the Worldcoin (WLD) assets would be managed by BitGo Bank & Trust. BNY Mellon is slated to act as the fund's administrator and transfer agent, and CSC Delaware Trust Company would serve as the trustee.

The current filing does not yet provide complete details, with information on management fees, seed investment, authorized participants, or liquidity providers yet to be disclosed.

The WLD token at the heart of the proposed ETF is an ERC-20 token built upon the Ethereum blockchain. It serves as the native currency for the World project, an initiative founded by OpenAI CEO Sam Altman. This project utilizes biometric verification as a method to distinguish human users from bots online.

If launched, the Worldcoin ETF would become the latest addition to Grayscale's 17 other crypto-related exchange-traded products. The firm's existing lineup includes funds that track a variety of digital assets, such as Bitcoin (BTC), XRP (XRP), Solana (SOL), Ether (ETH), Dogecoin (DOGE), and Chainlink (LINK).