Crypto market maker Wintermute launches US broker-dealer

Crypto market maker Wintermute has officially registered its U.S. affiliate, Wintermute USA LLC, as a broker-dealer with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This approval allows the firm to trade U.S. stocks and equity options, provide liquidity to exchanges and counterparties, and act as an authorized participant for exchange-traded funds (ETFs), including those with digital asset links.

Wintermute USA will operate as a proprietary trading firm, focusing initially on crypto-linked markets with plans to expand into tokenized stocks pending regulatory clearance. The firm handles over $10 billion in average daily trading volume across various venues. This strategic move positions Wintermute to capitalize on the increasing convergence of traditional finance and digital asset markets, with CEO Evgeny Gaevoy expressing a long-term vision for integrated operations in both spheres.

The registration also enables Wintermute USA to pursue market-making roles on major exchanges like the New York Stock Exchange and Nasdaq. The company has already secured partnerships with ETF issuers. This expansion follows Wintermute's establishment of its New York headquarters last year and its prior inquiries to the SEC regarding the trading of tokenized securities for proprietary accounts.