Wintermute Wins US Broker-Dealer License for Stocks and Crypto ETFs

Wintermute registers US broker-dealer with SEC and FINRA

Crypto market maker Wintermute has registered its New York affiliate, Wintermute USA LLC, as a broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The firm announced the registration on 6 August 2026, describing it as a formal expansion into U.S. regulated markets. Wintermute USA is headquartered in New York and runs a dedicated local team.

License covers stocks, options and crypto ETP shares

The registration establishes Wintermute USA as a regulated proprietary trading firm. It can provide liquidity to national securities exchanges and over-the-counter (OTC) counterparties. The firm can trade traditional equities and equity options for its own account. It can also act as an authorized participant for exchange-traded products (ETPs), including those tied to digital assets, and self-clear digital asset securities transactions for its own account. An authorized participant creates and redeems large blocks of ETP shares, which helps keep a fund's price close to the value of its holdings.

Wintermute handles over $10 billion in daily volume

Globally, the Wintermute group facilitates over $10 billion in average daily trading volume. It provides liquidity across more than 60 centralized and decentralized exchanges. The company said the U.S. launch reflects broader changes in market structure, as institutional trading spans more asset classes, venues, and settlement rails. Wintermute USA focuses on proprietary trading and ETP services, and it operates as an affiliate of Wintermute Trading.

"Digital assets and traditional finance will continue to develop in parallel, intersect in new ways, and ultimately integrate more deeply. As the landscape evolves, the firms that succeed will be those that have technical and operational know-how to operate in both.", 6 August 2026. — Evgeny Gaevoy, Founder and CEO, Wintermute

Bitcoin trades near $64,000 amid crypto ETP growth

Bitcoin traded at $64,187 at the time of publication, down 0.87% over the past 24 hours versus the previous close (CoinPaprika, 7 August 2026). Its market value stood near $1.29 trillion, keeping it the largest digital asset by market capitalization. Spot crypto ETPs have widened the set of regulated products that market makers now support, and authorized participant roles sit at the center of how those products create and redeem shares.

Registration positions Wintermute for tokenized securities

Wintermute said the approval marks a key milestone in its institutional expansion and positions the firm for the emerging tokenized securities market. The company can now trade traditional equities and equity options for its own account alongside its digital asset business, joining two markets it said are set to integrate more deeply over time. The registration follows continued investment in the U.S. market alongside engagement with regulators and policymakers on market structure and digital asset rules. The firm plans to build its U.S. business around proprietary trading and ETP services from the New York base.

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