Wintermute has secured SEC approval, allowing it to trade U.S. stocks, options, and support ETFs, bridging crypto and traditional finance.
Wintermute, a leading crypto market maker, has received broker-dealer approval from the SEC, enabling it to trade U.S. stocks and options while also facilitating exchange-traded funds (ETFs). This marks a significant move in merging cryptocurrency with conventional finance.
The firm's U.S. arm, Wintermute USA LLC, is now officially registered with both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This designation allows Wintermute to operate as a proprietary trading firm rather than a retail brokerage.
This new status permits Wintermute to trade stocks and equity options, provide liquidity in both exchange and over-the-counter markets, and serve as an authorized participant for ETFs, which may include crypto-related options.
Authorized participants are essential in maintaining the price equilibrium of ETF shares with the fund’s actual assets. Wintermute has indicated that its focus will remain on proprietary trading, with no plans to offer services to retail clients.
The registration also gives Wintermute the capability to act as a market maker on leading exchanges such as the New York Stock Exchange and Nasdaq, and reports suggest the firm has already forged collaborations with ETF issuers.
Wintermute claims to handle an impressive average daily trading volume of over $10 billion across more than 60 trading platforms, both centralized and decentralized.
This achievement follows Wintermute's expansion efforts in the U.S. market, which included the opening of its New York office last year and inquiries to the SEC related to broker-dealers trading tokenized securities and self-clearing transactions using wallet technology.
Wintermute joins other crypto entities like Ripple, GSR, and Crypto.com that have also set up regulated operations within the U.S. securities landscape, reflecting the ongoing convergence of cryptocurrency and traditional finance.
