Wintermute registers U.S. broker-dealer to trade stocks and ETFs

Wintermute USA LLC has registered as a broker-dealer with the U.S. Securities and Exchange Commission and joined the Financial Industry Regulatory Authority. The registration, announced Thursday, permits the firm to trade U.S. stocks and stock options and to perform the roles required of a broker-dealer.

The registration lets Wintermute execute trades for clients and trade on its own account. FINRA membership is often required for firms that take part in core U.S. capital markets activity, including handling securities transactions and clearing certain trades.

The firm also gained the ability to serve as an authorized participant for exchange-traded products. Authorized participants create and redeem ETF shares by exchanging baskets of the underlying securities with fund issuers, a function that supports ETF liquidity and daily operations. Wintermute said that authority extends to ETFs tied to digital assets.

Evgeny Gaevoy, Wintermute’s founder and chief executive, stated that the company expects digital asset markets and traditional finance to continue developing alongside each other and to integrate over time. He described the registration as positioning the firm to work across both market types.

In its announcement, Wintermute framed the registration as preparation for tokenized securities and for broader engagement with U.S. financial infrastructure and exchange-traded product markets. The firm did not provide a timetable for specific trading activities or name any partners tied to the registration.

By completing broker-dealer registration and obtaining FINRA membership, Wintermute USA gains access to workflows and functions used in stock, option and ETF markets, which could broaden the firm’s counterparties and product set in the United States.