World (CRYPTO: WLD) network token jumped on Monday after Grayscale Investments filed to launch the first spot exchange-traded product in the U.S. tracking the cryptocurrency’s price.
New Crypto Entrant on Wall Street
Grayscale submitted an S-1 filing to the SEC to list shares of the Grayscale Worldcoin ETF on the Nasdaq stock exchange under the ticker “GWLD.”
The fund aims to offer exposure to WLD, the native currency of the World Network, currently valued at $1.36 billion.
Grayscale is the world’s largest cryptocurrency-focused asset manager and a subsidiary of Barry Silbert-founded Digital Currency Group. It already manages ETFs for several major cryptocurrencies, including the Grayscale Bitcoin Trust ETF (NYSE:GBTC) and the Grayscale Ethereum Trust ETF (NYSE:ETHE).
World Ecosystem Assets Rally
The ETF filing sent WLD soaring nearly 8%, with trading volume jumping 11.80% to $180 million over the last 24 hours.
Similarly, shares of Eightco Holdings Inc. (NASDAQ:ORBS), the world’s largest corporate holder of WLD, were up 7.05% in pre-market trading.
World is an identity verification project that captures people’s irises to confirm their humanness and build a digital ID, allowing them to receive free WLD tokens. Tools For Humanity, a tech company co-founded by OpenAI CEO Sam Altman, is the primary developer of the project.
It has generated controversy over personal data privacy concerns and is outlawed in Hong Kong, Kenya, and Spain as of this writing.
Price Action: At the time of writing, WLD was exchanging hands at $0.3840, up 7.90% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, it has collapsed 26%.
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