Crypto market maker Wintermute plans to invest about $1 billion over the next five years in high-frequency trading and artificial intelligence data center infrastructure as it expands beyond digital assets. Wintermute CEO Evgeny Gaevoy told Bloomberg on Wednesday that the London-based firm is seeking to build a larger presence in equities, commodities, foreign exchange and prediction markets. The company wants non-crypto activities to generate more than half of its revenue by the end of 2027, compared with about 10% currently.
The expansion comes as crypto trading volumes have weakened. Wintermute's average daily trading volume has dropped to around $10 billion this year from roughly $15 billion in 2025, while Bitcoin has remained well below its October peak, per Bloomberg. Bernstein Sees 100% Upside In TeraWulf Stock After Earnings Bitcoin ETFs Attract $754 Million Of Capital MEXC Upgrades RealStocks With Three New Features to Enhance U.S.
Stock Trading Experience Grayscale Drops Plans For Cardano, Polkadot and Hedera ETFs MEXC Report: 74.2% of Traditional Finance Users Have Shifted Their Trading Activity to Crypto Exchanges "We are now going up against firms that have spent decades optimizing their technology and infrastructure for these markets, so obviously the level of investment required is significant," Gaevoy told the outlet. Wintermute has already begun building its traditional finance business. Its US affiliate recently registered as a broker-dealer, allowing it to trade equities and equity options and participate in exchange-traded products.
In May, the firm also expanded into prediction markets as a liquidity provider, adding automated two-sided trading to event contracts covering politics, economics, sports and other real-world events. According to the report, the company plans to expand its New York team from 17 employees and increase its global workforce by about 40% next year. Aside from Wintermute, other major crypto players have also been expanding into traditional finance and other financial markets.
Major crypto exchanges, including Coinbase (NASDAQ: $COIN), Binance and Kraken, have expanded into tokenized stocks and other products linked to traditional markets. Bitcoin miner Riot Platforms (NASDAQ: $RIOT) has also signed a 20-year lease with Anthropic for 191 megawatts of data center capacity at its Rockdale campus in a deal worth about $9.1 billion.
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