Summary
- Wintermute plans a $1 billion investment over five years in high-frequency trading and AI infrastructure to expand beyond crypto.
- The firm stated 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.
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.
The London-based firm wants non-crypto markets to generate more than 50% of revenue by the end of 2027, up from 10% now, as reported by a Bloomberg report citing founder and CEO Evgeny Gaevoy. Wintermute anticipates to fund the spending with retained earnings.
The push follows a drop in crypto activity. Wintermute’s average daily trading volume fell to about $10 billion this year from $15 billion in 2025 as bitcoin declined to roughly half its October peak above $126,000.
Institutions accounted for a record 72% of spot trading volume on its over-the-counter desk in the first half of 2026.
Gaevoy stated the privately held company was profitable in 2025 and anticipates to remain profitable this year, without providing figures. Wintermute recorded $582 million in profit during the 2021 crypto bull market, as reported by Forbes.
