Nikolas Sargeant
Wintermute Asia, a crypto derivatives trading firm, has expanded its offerings by adding spot and Contract for Difference (CFD) products to the oneZero network. The company introduced CFDs to its OTC derivatives lineup in March, reporting a threefold increase in trading volumes by June.
CFDs, which allow traders to speculate on price movements without owning the underlying asset, are gaining traction in the crypto market. The oneZero network, widely used by financial institutions, now provides access to these Wintermute products.
Hedging Risk with Crypto CFDs
Evgeny Gaevoy, Wintermute's CEO, noted that market momentum and growing crypto adoption are driving interest in trading, particularly in OTC-cleared derivatives like crypto CFDs. These instruments can be used to enhance returns and hedge risk, with some investors using them to protect against market fluctuations.
Gaevoy also highlighted an influx of traditional financial players seeking top-tier liquidity in the crypto space. To accommodate this demand, Wintermute has introduced multi-currency collateral support, allowing traders to use any crypto or fiat currency as margin collateral for CFD trading.
Wintermute's Role in Crypto ETFs
In addition to its CFD expansion, Wintermute is actively supporting the crypto ETF market. The firm recently announced its role as a liquidity provider for newly launched spot Bitcoin and Ethereum ETFs in Hong Kong, working with licensed digital asset platforms OSL Digital Securities and HashKey HK Exchange.
Despite challenging market conditions for crypto exchanges in 2023, Wintermute reported a 400% increase in over-the-counter trading volumes. This growth underscores the company's resilience and adaptability in a volatile market environment.
