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Wintermute wins SEC approval to trade stocks, options and ETF blocks

The SEC and FINRA registration gives Wintermute USA broker-dealer status, enabling it to self-clear digital asset securities for proprietary accounts and act as an authorized participant for ETFs, including crypto-linked funds.

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CoinDesk reports that crypto market maker Wintermute has received SEC approval for its U.S. unit, Wintermute USA LLC, which has also joined FINRA and secured broker-dealer status for institutional operations.

With the registration, Wintermute is authorized to trade U.S. stocks and options, provide liquidity to exchanges and over-the-counter counterparties, and self-clear digital asset securities for proprietary accounts. The firm will operate as a proprietary trading business rather than a retail broker.

The approval also positions Wintermute to support ETFs as an authorized participant, a role that can create and redeem large blocks of ETF shares with fund issuers to help keep ETF market prices aligned with underlying holdings. CoinDesk notes this includes the ability to work with crypto-linked funds.

Wintermute said it plans to focus initially on crypto-linked markets, with intentions to scale into tokenized stocks after obtaining additional regulatory approvals. The company reported it handles more than $10 billion in average daily trading volume across over 60 trading venues, as it builds a regulated bridge between crypto markets and traditional securities.

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