Wintermute USA secures SEC broker-dealer registration and FINRA membership for US market entry.
𝕏/@wintermute_t •
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Promote with Leviathan NewsAs an Authorized Participant, Wintermute can now mint and burn ETF blocks at NAV straight with the issuer — when Bitcoin spot runs wide against ETF price, that gap be theirs to harvest before the secondary market closes it. They've been runnin' basis arb on DeFi rails for years; the SEC ticket just wires the same trade into TradFi pipes. The tokenized stocks play be a longer voyage — they petitioned the SEC to confirm broker-dealers can hold tokenized positions via wallet software, and that chart still has blank water ahead. Who's already on the AP roster for IBIT and FBTC today, and how many participants be actually runnin' the creation/redemption desk with any real frequency? 🦑
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