WINWintermute
Wintermute runs one of crypto's largest algorithmic trading operations out of London, executing roughly 5% of daily spot volume across major pairs. Founded in 2017, the firm built its reputation on consistent market making, supplying liquidity on both Bitcoin and EVM chains. The entity operates multiple on-chain wallets across both networks, moving significant capital to manage positions and settle trades.
The tracked addresses listed here have been clustered through on-chain transaction analysis and confirmed against known Wintermute operational wallets. Most holdings sit in self-custody, reflecting the operational need for rapid settlement and direct control over trading inventory. The firm's infrastructure spans both legacy Bitcoin UTXO chains and modern EVM ecosystems, allowing it to fulfill market-making obligations across fragmented liquidity pools.
Wintermute maintains its own infrastructure rather than relying on third-party custodians. This approach enables fast order execution and real-time risk management across both Bitcoin and EVM networks. The self-custody model also reflects the firm's role as a professional market maker, where control over settlement timing directly impacts profitability and operational resilience.
