Wintermute USA Registers as SEC Broker-Dealer, Expanding into Traditional Financial Services

Wintermute's US subsidiary, Wintermute USA LLC, has registered as a broker-dealer with the SEC and FINRA. This milestone allows the major crypto market maker to expand into traditional finance by trading stocks, options, and commodities. Additionally, the New York-based firm can act as an authorized participant for digital asset ETFs and self-clear securities. CEO Evgeny Gaevoy emphasized that this move positions Wintermute for deeper integration between digital assets and traditional markets.

Wintermute USA SEC broker-dealer registration

• ▪Wintermute's US affiliate, Wintermute USA LLC, registered as a broker-dealer with the US Securities and Exchange Commission and the Financial Industry Regulatory Authority in August 2026.
• ▪As a registered broker-dealer, Wintermute USA LLC must comply with regulatory requirements including capital standards, financial reporting, and ongoing supervision.
• ▪Wintermute USA LLC is based in New York and will focus its operations on the United States financial market.

Traditional securities trading expansion

• ▪The broker-dealer registration allows Wintermute USA LLC to expand into traditional financial services, including trading stocks, stock options, and commodities.
• ▪Wintermute USA LLC will be permitted to provide liquidity to US stock exchanges and over-the-counter counterparties, as well as trade on its own account.
• ▪The license enables Wintermute USA LLC to self-clear digital asset securities transactions, allowing the firm to handle the full transaction cycle independently.

Crypto ETF authorized participant role

• ▪As an authorized participant, Wintermute USA LLC can create and redeem blocks of ETF shares by exchanging them for the underlying assets or cash.
• ▪Wintermute USA LLC's registration enables the firm to act as an authorized participant for exchange-traded products, including exchange-traded funds tied to digital assets.

Tokenized securities market positioning

• ▪Prior to this registration, Wintermute expanded its offerings in early 2026 to include market making for tokenized gold and providing bilateral liquidity for prediction markets.
• ▪Wintermute stated that the broker-dealer registration positions the firm to participate in the emerging tokenized securities landscape.

Digital asset TradFi integration

• ▪London-based parent company Wintermute, founded in 2017, facilitates an average daily trading volume of over $10 billion across more than 60 centralized and decentralized exchanges.
• ▪Wintermute founder and CEO Evgeny Gaevoy stated that digital assets and traditional finance will continue to develop in parallel and ultimately integrate more deeply.