Grayscale’s Massive Move for Sam Altman’s Altcoin: The Wall Street Journey Begins

Grayscale, one of the world’s largest asset managers, is preparing to bring the project to Wall Street by filing for a spot ETF for the popular cryptocurrency Worldcoin (WLD).

Known for its institutional investment products in the cryptocurrency market, Grayscale has made a new move by filing an official application with the U.S. Securities and Exchange Commission (SEC) for a Worldcoin ETF. With this step, the company aims to place the biometric authentication-focused World (WLD) project at the center of the traditional finance world.

The application states that the fund will hold WLD directly and offer investors shares reflecting the value of this asset. If approved, this new investment vehicle will begin trading on the Nasdaq exchange. BitGo will provide custody services for the fund, while Bank of New York Mellon will be responsible for transfer operations.

Grayscale’s Crypto Basket is Expanding

Founded by Sam Altman, Worldcoin stands out as an innovative project that aims to verify people’s digital identities through eye-scanning technology. With a market value of approximately $1.3 billion, WLD is currently the 57th largest cryptocurrency. This move by Grayscale is seen as a critical milestone for the project’s institutional acceptance.

Having previously successfully completed similar processes for Bitcoin and Ethereum, Grayscale has been rapidly expanding its product range recently. In addition to Worldcoin, the company continues to consolidate its dominance in the cryptocurrency market by making similar fund applications for various assets such as Solana (SOL), Chainlink (LINK), and Dogecoin (DOGE). These steps make digital assets more accessible to traditional stock market investors.