Great summary by TechCrunch on the history and relationship between Wall Street and Bitcoin. The article compares the growth of cryptocurrencies and blockchain technologies with Wall Street's reaction. Initially the big financial institutions resisted the acceptance of the emerging technology, but slowly they have become more willing to recognize its potential.
For the first few years, there was no response from Wall Street. The Wall Street Journal didn’t mention bitcoin until a blog post in June 2011. As the bitcoin community waited, advocates and enthusiasts speculated as to why America’s financial strongholds weren’t talking about the digital currency. Did banks not take bitcoin seriously enough to acknowledge it or feel threatened by its potential? Were they passing it off as a trend or trying to censor it from mainstream adoption? Surely they weren’t oblivious to the new technology that was coming to eat their lunch. Things began to change in December 2013, when Bank of America Merrill Lynch became the first major U.S. bank to publish a report on bitcoin.