Wintermute Registers as US Broker-Dealer, Eyes Stocks and Crypto ETF Markets

Global crypto market maker Wintermute has registered as a broker-dealer in the US, a move that broadens its reach into traditional finance.

CoinDesk reported on August 7 that Wintermute recently registered with the US Securities and Exchange Commission and the Financial Industry Regulatory Authority as a broker-dealer.

The registration allows Wintermute to trade stocks and equity options and provide liquidity on exchanges and in over-the-counter markets. It can also serve as a market maker on major US exchanges including Nasdaq and the New York Stock Exchange.

Wintermute will also be able to act as an authorized participant for exchange-traded funds, including crypto-related products. Authorized participants work with ETF issuers to create and redeem large blocks of shares directly, helping keep ETF prices from diverging significantly from the value of their underlying assets. Wintermute has already secured ETF issuers to work with, according to the report.

The company has not announced plans to launch stock brokerage services for retail investors. Wintermute said the business of its US entity with broker-dealer status will be limited to proprietary trading.

Wintermute currently handles more than $10 billion in average daily trading volume across more than 60 centralized and decentralized exchanges.