Wintermute plans to invest approximately $1 billion over the next five years in high-frequency trading and AI data center infrastructure development.

According to Bloomberg, crypto market maker Wintermute plans to invest roughly $1 billion over the next five years in high-frequency trading (HFT) and AI data center infrastructure, while expanding into traditional financial markets including stocks, commodities, and foreign exchange (FX). Wintermute founder and CEO Evgeny Gaevoy stated that the firm aims to gradually transition into a full-service trading house similar to Jane Street or Citadel Securities. Gaevoy noted that competing with institutions that have refined technology and infrastructure in traditional markets for decades requires large-scale investment. In addition to reducing trade execution latency, Wintermute must continuously leverage massive market datasets to train and retrain more complex quantitative models, while securing sufficient computing, storage, and networking resources. The infrastructure investments are expected to be funded primarily by the firm’s retained earnings. Due to the crypto market downturn, Wintermute’s average daily trading volume has dropped from roughly $15 billion last year to $10 billion this year. Currently, around 10% of the firm’s revenue comes from non-crypto markets, with a target to lift that share to over 50% by the end of 2027. The firm has already started trading ETFs, perpetual contracts linked to real-world assets (RWAs), and will launch prediction market trading services in early 2026. Last week, Wintermute announced that its U.S. subsidiary has registered as a broker-dealer, enabling it to trade stocks, stock options, and act as an authorized participant for exchange-traded products (ETPs). The firm currently has 17 employees in New York, with plans to double that local headcount next year, while its global workforce is projected to grow by 40%.