Wintermute U.S. Arm Registers as Broker-Dealer, Eyes Designated Market-Maker Status on NYSE, Nasdaq

Wintermute’s U.S. unit has registered as a broker-dealer, placing the crypto market maker under oversight from the U.S. Securities and Exchange Commission (SEC) and FINRA, the Wall Street Journal reported.

With the registration in place, Wintermute USA is eligible to apply for designated market-maker status at the New York Stock Exchange (NYSE) and Nasdaq, according to the report.

The firm plans to initially trade in crypto-related markets, including commodities and digital-asset exchange-traded funds (ETFs), before potentially expanding into tokenized equities if U.S. regulators permit such activity.

As it builds out those operations, Wintermute USA has already signed ETF issuers as clients and is seeking to compete with Jump Trading, Citadel Securities, and Jane Street over the next three to five years, the Journal reported.

Source: The Wall Street Journal