Wintermute has obtained a U.S. broker-dealer license, a milestone that allows the prominent crypto market maker to expand into traditional finance. The license enables Wintermute USA to pursue market-making roles for U.S. stocks and exchange-traded funds (ETFs), though additional regulatory approvals are still required before entry into those markets.
According to The Wall Street Journal, Wintermute has already signed agreements with several ETF issuers, giving the firm an early client base. CEO Evgeny Gaevoy stated that Wintermute aims to compete with major Wall Street firms like Citadel Securities and Jane Street. The move is driven by rising institutional demand and the firm’s ambition to bridge digital and traditional asset markets.
