Crypto market maker Wintermute lands SEC approval to trade equities and ETF blocks
SummaryWintermutes U.S. arm has officially registered with the SEC and joined FINRA, securing broker-dealer status for its institutional operations.The firm is now authorized to trade U.S. stocks and options, provide liquidity for ETFs, and self-clear digital asset securities for proprietary accounts.Wintermute plans to focus initially on crypto-linked markets, with intentions to scale into tokenized stocks pending necessary regulatory approvals. Crypto market maker Wintermute has secured broker-dealer status in the U.S., giving the firm a regulated route into Wall Street as crypto trading and traditional securities markets draw closer together. New York-based Wintermute USA LLC registered with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The unit will operate as a proprietary trading firm rather than a retail broker. 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, a process that helps keep an ETFs market price close to the value of its holdings. Wintermute described the unit as proprietary-only and did not announce retail brokerage services. Authorized participants create and redeem blocks of ETF shares directly with fund issuers, helping keep