Cryptocurrency market maker Wintermute is planning to invest approximately $1 billion over the next five years in AI infrastructure and high-frequency trading systems, while expanding into equities, commodities, foreign exchange, and prediction markets. The company aims to lift non-crypto revenue to more than 50% of total income by the end of 2027.
Founder and CEO Evgeny Gaevoy said the investment will be funded from retained earnings.
Wintermute's average daily trading volume this year stands at about $10 billion, down from roughly $15 billion last year. Non-crypto business currently contributes around 10% of revenue.
The planned investment covers computing power, storage, networking, and data center infrastructure, supporting quantitative strategies that rely on large-scale datasets and continuous training and retraining of models.
Wintermute has already expanded into exchange-traded funds (ETFs), real-world asset (RWA) perpetual futures, and prediction markets. Separately, a U.S. affiliate recently completed a broker-dealer registration, allowing it to trade stocks and stock options for its own account and act as an authorized participant for exchange-traded products. The registration provides a path into regulated securities markets.