Wall Street banks have collectively sold over $530 million in structured notes linked to the BlackRock Bitcoin ETF, marking a significant shift in the financial industry's approach to cryptocurrency. Initially deemed too volatile and marginal, Bitcoin is now being integrated into financial instruments by major firms. Jefferies Financial Group pioneered this trend in July with the first U.S. structured note tied to the BlackRock Bitcoin ETF, followed by Goldman Sachs, Morgan Stanley, and JPMorgan Chase. These banks are leveraging the BlackRock iShares Bitcoin Trust (IBIT) to offer products that provide cryptocurrency exposure with customized returns and some downside protection, catering to varying risk appetites. This development underscores the growing acceptance and integration of digital assets into traditional financial markets.