Wintermute

𝐖𝐢𝐧𝐭𝐞𝐫𝐦𝐮𝐭𝐞 𝐁𝐞𝐜𝐨𝐦𝐞𝐬 𝐚 𝐄𝐮𝐫𝐞𝐱 𝐌𝐞𝐦𝐛𝐞𝐫! We are excited to share that we are officially a Eurex member! Joining Eurex, the leading European derivatives exchange, is a significant step for Wintermute Asia. It enables us to offer institutional investors access to a wide range of derivative products and liquidity solutions within a framework that aligns with their established trading practices. Through Eurex, institutions can now execute large blocks across multiple crypto products, including options and futures, whilst using a familiar setup. In addition to our existing offerings, Wintermute Asia can structure tailored products referencing the Eurex products, addressing specific execution needs and conditions. We’ve observed strong interest from traditional finance in gaining exposure to cryptocurrencies, but institutions require trusted, secure methods to access crypto that align with their existing frameworks. By becoming a Eurex member, we aim to bridge this gap and enable institutions to trade digital assets in a compliant environment they are accustomed to. The onboarding process with such venues demands rigorous due diligence, as well as alignment of infrastructure and operational setups. We’re proud to be among the few crypto-native firms to meet these high standards. As a market leader in the digital asset ecosystem, we’re keen to bring our expertise into traditional finance and contribute to building a diversified financial system. Having already established a presence in other traditional finance venues, this membership is another key step in this direction as we continue to expand our reach across traditional finance venues that support crypto. This milestone also marks the continuous expansion of our derivatives offering, further solidifying our position as a one-stop shop for digital asset OTC trading. We look forward to working with the Eurex team and providing our counterparties with the most comprehensive offering in the space. → 𝐑𝐞𝐚𝐝 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐧𝐞𝐰𝐬: https://lnkd.in/dbpExxmX #options #futures #OTC #markets #Eurex #Wintermute — Disclaimer: Derivatives trading is offered by Wintermute Asia (Singapore). This material is provided solely for informational purposes and is intended only for sophisticated investors. Specifically, derivatives trading with Wintermute Asia is not suitable for retail persons.

Bitcoin sets new ATH at $99,860 with strong ETF momentum 📈 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 – 𝟐𝟓 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟒 Last week saw Bitcoin reach new heights with an ATH of $99,860 and highest weekly close of $98,000 (+9%). Spot Bitcoin ETF options launched strong with $2B first-day exposure and bullish sentiment, while the stablecoin market approaches ATH at $186B, led by USDT's $10B growth. 🔗 Full update: https://lnkd.in/grfi85km 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 Bitcoin recorded 9% weekly gain while broader crypto market (GMCI30) rose 7% Legacy tokens surprised with Stellar (XLM) and Tezos (XTZ) surging 85% and 62% Spot Bitcoin ETF saw $3.3B weekly inflows, led by BlackRock's IBIT ($1.9B) MicroStrategy acquired 51,780 BTC for $4.6B, now holding 331,200 BTC worth $29.7B Institutional momentum continues to build as Charles Schwab plans spot crypto trading pending regulatory changes. The post-election landscape has also brought promising developments for Solana ETFs, with VanEck, 21Shares, and Bitwise leading filing efforts. The SEC's decision deadline is set for early August. 𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 Monthly onchain volume reached $1.7T in November Mining hashrate hit new peak at 760 EH/s Miner revenue increased from $32M to $45M (7DMA) Active addresses grew from 720,000 to 870,000 monthly 𝐒𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧 𝐔𝐩𝐝𝐚𝐭𝐞 Total market cap approaching ATH at $186B Tether added $10B, reaching $130B market cap USDC and USDe gained $3B and $900M respectively European stablecoin landscape evolving with MiCA regulation 𝐂𝐥𝐨𝐬𝐢𝐧𝐠 𝐓𝐡𝐨𝐮𝐠𝐡𝐭𝐬 The crypto market is displaying clear signs of maturation through multiple vectors. Bitcoin's surge and accelerating institutional moves, coupled with expected regulatory tailwinds, signal a fundamental shift from pure speculation to established financial instrument status. The stablecoin landscape is equally telling, with major players strategically positioning for future shifts in global digital money flows, suggesting preparation for a broader transformation in digital asset markets. 🔗 Get access to the full market update: https://lnkd.in/grfi85km

📈 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 – 𝟏𝟖 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟒 Bitcoin surged 11.8% to close at $90,000 after hitting a new ATH of $93,495. Solana shattered records with $7B daily trading volumes, while Goldman Sachs reported a 71% quarterly increase in Bitcoin ETF holdings to $710M. 🔗 https://lnkd.in/gwFDtpVU 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 Bitcoin marked its strongest weekly performance since October amid record derivatives activity. Total open interest reached $64B, triggering: ⁃ Largest liquidation event of 2024: $1.85B longs ⁃ Initial surge liquidated $1.2B shorts ⁃ Altcoin OI climbed to 38% from post-election lows of 31% October CPI at 2.6% YoY sparked hawkish Fed commentary, dropping December rate cut probability to 62%. Meanwhile, institutional adoption accelerates: ⁃ Goldman Sachs: $710M holdings (+71% QoQ) ⁃ BlackRock's IBIT: $40B AUM in record 211 days ⁃ ETF weekly flows: $2.4B inflows, $600M outflows ⁃ Basis trade spread: 12% annually 𝐄𝐓𝐅 & 𝐈𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐚𝐥 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 Spot Bitcoin ETF market shows accelerating institutional adoption: ⁃ Weekly flows: $2.4B inflows, $600M outflows ⁃ BlackRock's IBIT: Record $40B AUM in 211 days ⁃ ETH ETFs: First positive flows with $534M weekly Major institutions expand crypto exposure: ⁃ Goldman Sachs: $710M (+71% QoQ) ⁃ Millennium: $849M IBIT stake ⁃ Tudor & Capula: Combined $830M ⁃ Basis trade spread: 12% annually Traditional finance giants including JP Morgan, HSBC, Morgan Stanley, and Michigan Retirement Fund join the digital asset space. 𝐒𝐨𝐥𝐚𝐧𝐚'𝐬 𝐇𝐢𝐬𝐭𝐨𝐫𝐢𝐜 𝐀𝐜𝐡𝐢𝐞𝐯𝐞𝐦𝐞𝐧𝐭 First time outpacing Ethereum since DeFi Summer 2020: ⁃ October: $52B vs ETH's $41B ⁃ November MTD: $64B vs ETH's $33B ⁃ Daily volume record: Nearly $7B Raydium leads Solana's growth: ⁃ November fees: $98M ATH (half month remaining) ⁃ Weekly revenue: $68M (behind only Tether & ETH) ⁃ Token surge: $1.85 to $4.8 since October ⁃ Current FDV: $2.6B vs Uniswap's $8.4B 𝐃𝐞𝐅𝐢 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 Solana's Kamino hits $2B TVL (+1,100% YTD) while Ethereum's Aave shows strength with $29B TVL (+30% post-election) and $14.5B active loans. ETH ETFs gain momentum with $534M weekly inflows, marking first positive cumulative flow and representing 20% of November's crypto ETF inflows. 𝐂𝐥𝐨𝐬𝐢𝐧𝐠 𝐓𝐡𝐨𝐮𝐠𝐡𝐭𝐬 Market momentum appears strong heading into inauguration, supported by derivatives positioning and growing institutional confidence. While Solana captures high-frequency trading volume, significant capital remains anchored in Ethereum's established ecosystem. Barring macro shifts or regulatory changes, outlook remains optimistic with particular strength in both Solana's ecosystem and institutional adoption channels. 🔗 Get access to the full market update: https://lnkd.in/gwFDtpVU

$850M in options are betting on $100K Bitcoin by year end Our OTC trader, Jake Ostrovskis, weighs in on the momentum in The Wall Street Journal’s latest article on Bitcoin’s trajectory. Read the full article: https://lnkd.in/gvQ4CN_5

In Miami for the next 24 hours for the Cantor Fitzgerald Asset Management Digital Asset and AI conference - if you are around and want to talk Wintermute OTC and crypto liquidity, be in touch!

Wintermute Ventures is excited to back Notabene in their Series B round! With 165+ companies across 85+ jurisdictions using their platform, they're building essential infrastructure for compliant crypto transactions globally. Through their growth, they're setting the standard for secure cross-border crypto flows. Congratulations to Pelle Brændgaard and the team! — 𝐀𝐛𝐨𝐮𝐭 𝐍𝐨𝐭𝐚𝐛𝐞𝐧𝐞 Notabene’s SafeTransact is an easy-to-use platform that empowers customers to identify and stop high-risk crypto activity before it occurs. — 𝐀𝐛𝐨𝐮𝐭 𝐖𝐢𝐧𝐭𝐞𝐫𝐦𝐮𝐭𝐞 𝐕𝐞𝐧𝐭𝐮𝐫𝐞𝐬 At Wintermute, our mission is to enable, empower, and advance the truly decentralized world for more transparent and efficient markets and products. Our Ventures team is dedicated to helping our portfolio companies become market leaders in their respective fields, and we provide them with our in-house resources to help them scale. #ventures #digitalassets #funding #vc #treasurymanagement

With great market tailwinds, now is the perfect time to join the Wintermute team or make that move into crypto We're hiring across tech, business development, legal, and operations teams! Check out our open positions ↓

📈 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 – 𝟏𝟏 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟒 In a landmark week for crypto markets, Bitcoin surged 17% to a new all-time high of $80,000 following Donald Trump's presidential victory. The rally extended across the crypto ecosystem, with the GMCI DeFi index gaining 33.5% and the GMCI Meme index surging even higher at 54%. This momentum comes amid an unprecedented alignment of crypto-friendly leadership in Washington. 🔗 Full update: https://lnkd.in/gcY_y2NY 𝐌𝐚𝐫𝐤𝐞𝐭 𝐔𝐩𝐝𝐚𝐭𝐞 • BTC hit new ATH at $80,000, breaking 7-month consolidation • Record weekly spot volume of $54B • Derivatives OI reached ATH of $56B • Short liquidations: $1.5B (3x typical weekly volume) • Funding rates exceeded 30% APR for BTC/ETH Institutional flows set new records as CME futures open interest reached $13.7B ATH, with trading volume hitting $13.5B post-election. Spot Bitcoin ETFs saw dramatic shifts: • Post-election inflows: $2.17B in three days • Record single-day inflow: $1.37B • IBIT market share grew to 68% (from 42%) • GBTC share declined to 6% (from 25%) Traditional markets rallied alongside crypto, with S&P 500 up 4.6%. Global monetary policy turned increasingly accommodative: • Fed: 25bps cut following September's 50bps reduction • ECB: Third consecutive cut to 3.25% • BoE: First cut in four years to 5% Prediction markets set records with Polymarket processing $3.6B in presidential election markets (vs Betfair's $0.54B in 2020). 𝐃𝐞𝐅𝐢 𝐚𝐧𝐝 𝐌𝐞𝐦𝐞 𝐓𝐨𝐤𝐞𝐧 𝐏𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 • Raydium (RAY): +70% • Ethena (ENA): +58% • Aave (AAVE): +42% • Lido (LDO): +40% • DEX volume hit $12B daily post-election • DEX/CEX ratio reached ATH of 22% 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥 𝐈𝐦𝐩𝐚𝐜𝐭 𝐨𝐟 𝐓𝐫𝐮𝐦𝐩'𝐬 𝐖𝐢𝐧 𝐨𝐧 𝐂𝐫𝐲𝐩𝐭𝐨 The political landscape shifted dramatically with pro-crypto victories across: • Presidency: Trump becomes first pro-crypto president • House: 268 pro-crypto vs 133 anti-crypto • Senate: 19 pro-crypto vs 12 anti-crypto Key policy proposals include SEC leadership changes, a Crypto Presidential Advisory Council, support for US Bitcoin mining expansion, and the BITCOIN Act of 2024 proposing 5% national reserves in BTC. 𝐂𝐥𝐨𝐬𝐢𝐧𝐠 𝐓𝐡𝐨𝐮𝐠𝐡𝐭𝐬 Trump's decisive victory, combined with a globally accommodative monetary environment, signals a potential major risk-on cycle. While markets have priced in expectations of clearer regulation, the new administration must now deliver on its promises. The continued outperformance of memecoins alongside DeFi's renaissance suggests memes are becoming a permanent fixture in the crypto landscape, while market response demonstrates how regulatory clarity can be a powerful catalyst for risk assets. 🔗 Get access to the full market update: https://lnkd.in/gcY_y2NY

First RFQ trade ✅ on Finery Markets' Crypto ECN platform! Institutional counterparties can now trade with Wintermute via Finery Markets, combining our liquidity across hundreds of digital assets with Finery’s ECN. Ready to power efficient trading & execution for institutions 🤝

👋Happy Monday! Here’s an updated list of roles we’re hiring for at Wintermute 🚀 📌Core Developer (Python), London https://lnkd.in/gqMeJrhR 📌C++ Trading Platform Developer, London https://lnkd.in/dxQHJka4 📌Legal Counsel, London https://lnkd.in/eeWs46EF 📌Senior Compliance Associate, London/Singapore https://lnkd.in/eyuYAZjS 📌Business Development & Partnerships Director, Hong Kong https://lnkd.in/eBgJH6wh 📌Business Development & Partnerships Director, New York https://lnkd.in/g4w9ctH6 📌Graduate DeFi Algorithmic Trader, London/Singapore https://lnkd.in/eAPJcJXC 📌DeFi Trader/Developer (experienced), London/Singapore https://lnkd.in/e_73KZ_H If you are interested in any of the roles above, please go ahead and make an application. #CryptoJobs #Hiring #TechJobs #DeFi #Trading #Wintermute #trading #highfrequency #careers