The crypto trading firm’s U.S. arm gains FINRA and SEC approval to compete with Wall Street incumbents in ETFs and tokenized assets.
Wintermute’s U.S. entity has registered as a broker-dealer, enabling it to pursue designated market-maker status on exchanges like Nasdaq and the New York Stock Exchange. The move places the firm under FINRA and SEC oversight, expanding its access to regulated markets.
The firm plans to initially trade crypto-related products, including digital-asset ETFs and commodities, before potentially entering tokenized equities. Wintermute has already onboarded ETF issuers as clients and aims to challenge established players like Jump Trading, Jane Street, and Citadel Securities within three to five years.
No immediate market reaction was reported following the announcement.