Wintermute Bets $1 Billion on AI and High-Frequency Trading Expansion

Its investment program will focus on computing power, storage, networking and data-center infrastructure. Those systems will support quantitative strategies that rely on large datasets and models that require continuous training and retraining.

Wintermute has already moved into exchange-traded funds, real-world-asset perpetual futures and prediction markets.

The company is also building the regulatory and staffing base needed for a larger U.S. operation.

Wintermute's American affiliate recently registered as a broker-dealer, allowing it to trade equities and equity options for its own account. It can also act as an authorized participant for exchange-traded products.

The registration gives Wintermute a clearer route into regulated securities markets as crypto firms and traditional finance increasingly compete across the same products.

For Wintermute, the strategy is less about abandoning crypto than reducing its dependence on it. The firm built its business around digital-asset liquidity, but the next phase is designed to apply the same trading technology across a much larger set of markets.

If the revenue target is met, Wintermute could look less like a crypto-native market maker by 2027 and more like a global trading firm with crypto as one business line among several.