Wintermute USA has obtained its broker-dealer registration in the United States, allowing it to register as a market maker on American stock exchanges. The firm has already signed ETF issuers as clients and aims to compete with Jump Trading, Jane Street and Citadel Securities within three to five years. BlackRock’s iShares Bitcoin Trust held $43.2 billion at the end of June, with none of the twelve firms authorized to create and redeem its shares being crypto companies. Wintermute already generates 72% of its spot OTC volume from institutional clients in the first half of 2026. The firm opened its New York headquarters in May 2025 and plans to expand into commodities ETFs, then tokenized equities pending regulatory approval.
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