Bloomberg · Wall Street · Citadel Securities · CoinDesk
Wintermute gears up $1 billion AI push beyond crypto: Bloomberg
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Crypto market maker Wintermute plans to invest about $1 billion in high-frequency trading and artificial intelligence data-center infrastructure over five years as it expands into stocks, commodities and foreign exchange.
Key facts
- The London-based firm wants non-crypto markets to generate more than 50% of revenue by the end of 2027, up from 10% now, according to a citing founder and CEO Evgeny Gaevoy
- Institutions accounted for a record 72% of spot trading volume on its over-the-counter desk in the first half of 2026
- The firm began trading exchange-traded funds and perpetual futures tied to real-world assets in 2025 and added 24-hour exposure to West Texas Intermediate crude in March
- The investment would help Wintermute compete with firms including Jane Street, Citadel Securities and XTX Markets
Summary
Wintermute plans a $1 billion investment over five years in high-frequency trading and AI infrastructure to expand beyond crypto. The firm said it is aiming for non-crypto markets to drive over 50% of revenue by 2027, up from 10% currently, as it seeks to diversify its business. The strategic pivot follows declining crypto activity, with daily trading volumes dropping to $10 billion this year from $15 billion in 2025. The London-based firm wants non-crypto markets to generate more than 50% of revenue by the end of 2027, up from 10% now, according to a citing founder and CEO Evgeny Gaevoy.