Wintermute Enters US Broker-Dealer Market Amid Growing Demand for Institutional Crypto Liquidity

Wintermute, a digital-asset liquidity provider, has registered as a broker-dealer with the Securities and Exchange Commission (SEC) in the US. The registration allows Wintermute to trade equities and equity options for its own account and participate in primary markets for exchange-traded products.

The company's New York-based affiliate, Wintermute USA LLC, is authorized to act as an Authorized Participant for exchange-traded products, including those tied to digital assets. This role enables Wintermute to create and redeem ETF shares, helping to align the trading price of these securities with their underlying assets.

Wintermute plans to compete with major market makers within three to five years, starting with commodities and digital-asset ETFs. The company aims to eventually obtain Designated Market Maker status on a major exchange.