Wintermute’s U.S. arm has registered with the SEC and joined FINRA, giving the crypto market maker broker-dealer status for institutional operations. The approval lets the firm trade U.S. stocks and options, support ETF liquidity and pursue a larger role in crypto-linked traditional markets.
Wintermute’s U.S. arm has registered with the SEC and joined FINRA, giving the crypto market maker broker-dealer status for institutional operations. The approval lets the firm trade U.S. stocks and options, support ETF liquidity and pursue a larger role in crypto-linked traditional markets.
Wintermute has secured U.S. broker-dealer status, giving the crypto market maker a regulated path into parts of the traditional securities market. Its New York-based unit, Wintermute USA LLC, registered with the Securities and Exchange Commission and joined the Financial Industry Regulatory Authority, according to CoinDesk.
Wintermute has secured U.S. broker-dealer status, giving the crypto market maker a regulated path into parts of the traditional securities market. Its New York-based unit, Wintermute USA LLC, registered with the Securities and Exchange Commission and joined the Financial Industry Regulatory Authority, according to CoinDesk.
The move matters because it expands the ways a major crypto trading firm can operate as digital assets become more closely tied to Wall Street products. Wintermute can now trade U.S. stocks and equity options, provide liquidity to exchanges and over-the-counter counterparties, and act as an authorized participant for exchange-traded funds, including crypto-linked ETFs.
Authorized participants play a key role in the ETF market by creating and redeeming large blocks of shares directly with issuers. That mechanism helps keep an ETF’s trading price aligned with the value of its underlying assets, making the approval relevant for firms building liquidity around crypto-related funds.
Wintermute said the U.S. unit will operate as a proprietary trading firm, not as a retail brokerage. The registration also allows the company to seek market-making roles on exchanges such as the New York Stock Exchange and Nasdaq.
The approval follows Wintermute’s broader U.S. expansion, including the opening of its New York headquarters last year. CoinDesk reported that Wintermute handles more than $10 billion in average daily trading volume across more than 60 centralized and decentralized venues, citing the company.
Wintermute is part of a wider group of crypto firms building regulated U.S. securities businesses. Ripple, GSR and Crypto.com have all pursued broker-dealer or securities-market infrastructure through acquisitions or internal buildouts, reflecting a continued narrowing of the gap between crypto markets and traditional finance.
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