Wintermute Secures SEC Approval for Equities Trading in the US

Crypto market maker Wintermute has secured broker-dealer status in the U.S., giving the firm a regulated route into Wall Street. The New York-based company, Wintermute USA LLC, registered with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

The registration lets Wintermute trade stocks and equity options, provide liquidity to exchanges and over-the-counter counterparties, and act as an authorized participant for exchange-traded funds (ETFs), including crypto-linked funds. Authorized participants create and redeem large blocks of ETF shares, helping keep the fund's market price close to its holdings.

The approval follows a longer U.S. buildout. Wintermute opened its New York headquarters last year and later asked the SEC to confirm that broker-dealers could trade tokenized securities for their own accounts. The firm has already lined up ETF issuers to work with, according to a Wall Street Journal report.