TL;DR
- Wintermute plans to open an office in New York and offer OTC products to U.S. clients to strengthen its presence.
- The company will increase its team by five to ten employees, expanding its operations in the U.S. market.
- The expansion is driven by growing institutional adoption of crypto assets and the potential for a more crypto-friendly regulatory environment under Trump’s leadership, who has shown strong pro-crypto support.
Wintermute, one of the leading firms in the crypto asset market, is expanding its presence in the United States with the opening of a new office in New York. The primary goal of this expansion is to offer over-the-counter (OTC) products to U.S. clients, strengthening its position in an ever-growing market. Wintermute’s CEO, Evgeny Gaevoy, shared these plans in a recent interview with Bloomberg, highlighting that the company also intends to increase its team in the U.S. by adding between five and ten new employees to its current team of 130 people.
Regulatory Optimism Driven by the Political Landscape
Despite global regulatory challenges, the company maintains an optimistic outlook regarding the future of crypto assets in the United States. Wintermute believes that the country is close to adopting a more favorable regulatory framework for cryptocurrencies, especially after Donald Trump’s presidential candidacy, as he has shown clear support for digital currencies. This stands in contrast to the stance of Joe Biden’s administration, which, under SEC Chair Gary Gensler, adopted policies that many consider restrictive for the crypto sector.
Wintermute’s expansion comes at a time of increasing institutional interest in cryptocurrencies. The company has played a crucial role in recent events, such as supporting the launch of Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong, providing liquidity. Moreover, Wintermute has established itself as a key liquidity provider on digital asset platforms such as OSL Digital Securities and HashKey HK Exchange.
This growth not only reflects the positive impact of institutional adoption but also emphasizes the potential of cryptocurrencies as an asset class that institutional investors are starting to trust. Despite market volatility, Wintermute has seen a remarkable increase in its OTC trading volumes, with a 400% surge in 2023.
Wintermute’s decision to expand its operations in the U.S. highlights the growing interest of major investors in cryptocurrencies and the possibility that the market will adapt to a more crypto-friendly regulatory environment. This move serves as a clear indication that the future of crypto is being shaped by institutional adoption and a changing regulatory landscape, signaling potential growth for the sector.
