TLDR
- Wintermute USA LLC has registered as a broker-dealer with the SEC and FINRA
- The New York-based subsidiary can now trade stocks, stock options, and act as an authorized participant for ETFs
- Wintermute says the move positions it for growth in the tokenized securities market
- The firm handles over $10 billion in average daily trading volume across 60+ exchanges
- CEO Evgeny Gaevoy says digital assets and traditional finance will “integrate more deeply”
Crypto market maker Wintermute has registered a US subsidiary as a broker-dealer with the Securities and Exchange Commission and the Financial Industry Regulatory Authority.
Wintermute Registers as U.S. Broker-Dealer, Targets Wall Street Market-Making Giants
The Wall Street Journal reported that Wintermute’s U.S. arm has registered as a broker-dealer, bringing it under FINRA and SEC oversight and making it eligible to seek designated market-maker… pic.twitter.com/bD9BpIDLJU
— Wu Blockchain (@WuBlockchain) August 6, 2026
The New York-based entity, Wintermute USA LLC, can now trade stocks and stock options, provide liquidity to US securities exchanges, and act as an authorized participant for exchange-traded products, including those tied to digital assets.
The announcement was made on Thursday, August 7, 2026.
What a Broker-Dealer Registration Means
A broker-dealer is a firm registered with the SEC and FINRA that can execute trades for clients and trade securities from its own account.
Wintermute USA will also be able to self-clear digital asset securities transactions. This gives the firm more direct control over its trading operations in the US market.
Authorized participants play a key role in the ETF market. They create and redeem large blocks of ETF shares by exchanging them for the underlying basket of securities, which helps keep a fund’s price in line with its net asset value.
Tokenized Securities Drive the Expansion
Wintermute says the registration is tied to its view on the growth of tokenized securities. The firm has been expanding into this space, and earlier this year began market-making for tokenized gold and providing liquidity for prediction markets.
The SEC has supported blockchain experimentation but has made clear that moving a security onchain does not exempt it from securities laws. The agency has said that a range of onchain securities activities will require proper licensure.
CEO Evgeny Gaevoy said the firm has always believed digital asset markets would develop beyond crypto alone.
“Digital assets and traditional finance will continue to develop in parallel, intersect in new ways, and ultimately integrate more deeply,” Gaevoy said. “As the landscape evolves, the firms that succeed will be those that have technical and operational know-how to operate in both.”
Wintermute is headquartered in London and currently facilitates over $10 billion in average daily trading volume. It operates across more than 60 centralized and decentralized exchanges globally.
Wintermute USA will be based in New York and will serve as the firm’s hub for its expanded US operations in both traditional and digital asset markets.
The registration marks a step toward bridging crypto market making with traditional financial infrastructure in the US.
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