According to CoinMeta, the crypto market maker Wintermute has obtained brokerage trader qualifications from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Agency (FINRA), becoming a compliant participant on Wall Street. The company will operate as a proprietary trading firm and, once registered, will be able to trade stocks and equity options, providing liquidity for exchanges and over-the-counter (OTC) trading counterparts, as well as acting as an authorized participant in exchange-traded funds (ETFs). Wintermute has an average daily trading volume of over $10 billion and has already established partnerships with ETF issuers.