Wintermute Dives into Traditional Markets with $1 Billion AI Investment

London-based crypto market maker Wintermute plans to invest $1 billion over five years in high-frequency trading and AI data center infrastructure. The goal is to expand into traditional markets, with non-crypto revenue expected to exceed 50% by the end of 2027, up from 10% currently.

Wintermute's average daily trading volume has dropped to $10 billion this year, down from $15 billion in 2025. The firm started trading exchange-traded funds and perpetual futures tied to real-world assets last year and added 24-hour exposure to West Texas Intermediate crude in March.

The company recently received broker-dealer status for its US affiliate, allowing it to trade stocks and stock options and act as an authorized participant for exchange-traded funds. Wintermute also plans to expand its New York team and grow its global workforce by about 40% next year.