America

JPMorgan

BlackRock

Dozens of digital asset job openings have appeared at traditional financial institutions in recent weeks.From JPMorgan Chase (NYSE: JPM) and Morgan Stanley (NYSE: MS) to BlackRock (NYSE: BLK) and Bank of America (NYSE: BAC), everyone wants to tap the crypto talent pool.The roles span engineering, product, compliance, and financial crimes and they are paying handsomely.But just the knowledge of <a rel="noopener noreferrer nofollow">Bitcoin </a>(BTC) or chart movements isn't enough to be selected.<a href="https://www.thestreet.com/crypto/news/crypto-jobs-still-accelerating-despite-hiring-freezes-in-tech-industry" rel="noopener noreferrer nofollow">Related: Crypto Jobs Still Accelerating, Despite Hiring Freezes in Tech Industry</a><h2 id="crypto-jobs-offer-over-200k-salaries">Crypto jobs offer over $200K salaries&nbsp;</h2>As per<a href="https://www.bloomberg.com/news/articles/2026-05-07/wall-street-firms-post-dozens-of-crypto-jobs-with-a-catch" rel="noopener noreferrer nofollow"> Bloomberg</a>, Morgan Stanley recently posted an executive director role supporting its digital asset products and services financial crimes program, with base pay of up to $265,000 a year.&nbsp;BlackRock is hiring a director of digital assets at up to $270,000 before bonus.&nbsp;Bank of America is seeking a senior engineer for its digital assets platform at up to $200,000, while Fidelity is offering as much as $255,000 for an engineer on its digital assets business.&nbsp;Similar postings have appeared from Bank of New York Mellon (NYSE: BK) and even Nasdaq (NASDAQ: NDAQ), among others.The push comes as Wall Street firms build out businesses that have received more welcoming regulatory treatment under the Trump administration.&nbsp;Those range from <a href="https://www.thestreet.com/crypto/explained/what-is-blockchain-explained" rel="noopener noreferrer nofollow">blockchain-based</a> payment platforms and tokenized money-market funds to Bitcoin ETFs and digital wealth management offerings.&nbsp;JPMorgan launched a dedicated digital assets team earlier this year and has plans to debut two tokenized products in 2026, with hiring skewing toward engineering and product roles.The openings are drawing attention in part because they stand in sharp contrast to what is happening across the broader crypto industry, which is still working through a prolonged downturn following a Bitcoin selloff that began in October.Several crypto firms are in distress, and layoffs have been widespread. For instance, Gemini cut <a href="https://www.thestreet.com/crypto/jobs/winklevoss-twins-led-exchange-announces-major-layoff-amid-market-exit" rel="noopener noreferrer nofollow">30% of staff</a>, and Coinbase began its own <a href="https://www.thestreet.com/crypto/markets/coinbase-announces-layoff-ahead-of-earnings" rel="noopener noreferrer nofollow">round of cuts</a>&nbsp;right ahead of its earnings.<h3 id="popular-on-thestreet-roundtable">Popular on TheStreet Roundtable:</h3><ul><li><a href="https://www.thestreet.com/crypto/markets/eric-trump-unveils-new-logo-as-his-fathers-brand-takes-over-u-s-government" rel="noopener noreferrer nofollow">Eric Trump unveils new logo as his father's brand takes over U.S. Government</a></li><li><a href="https://www.thestreet.com/crypto/markets/blackrock-reveals-surprising-new-asset-class" rel="noopener noreferrer nofollow">BlackRock reveals surprising new asset class</a></li><li><a href="https://www.thestreet.com/crypto/markets/ripple-ceo-denies-being-an-xrp-maxi" rel="noopener noreferrer nofollow">Ripple CEO denies being an XRP maxi</a></li></ul><h2 id="but-there-s-a-catch">But there's a catch</h2>Wall Street's crypto openings come with a requirement.&nbsp;Nearly every role requires not just technical expertise but prior experience at a traditional financial institution.&nbsp;One Morgan Stanley posting required a minimum of six to eight years in investment banking, corporate development, private equity, or a comparable field.&nbsp;JPMorgan's hiring criteria similarly demand that candidates understand governance, controls, operational processes, and client expectations at a firm of its scale.<h2 id="the-broader-jobs-picture">The broader jobs picture</h2>The Wall Street crypto hiring push is a bright spot within a broader labor market that remains cautious.&nbsp;Total nonfarm payroll<a href="https://www.bls.gov/" rel="noopener noreferrer nofollow"> employment rose</a> by 115,000 in April, with the unemployment rate holding steady at 4.3%. Job gains were concentrated in health care, transportation and warehousing, and retail trade, while federal government employment continued to decline.The White House celebrated the report, with spokesman Kush Desai saying in a <a href="https://www.whitehouse.gov/releases/2026/05/jobs-report-trump-economy-roars-ahead-with-big-private-sector-job-gains/" rel="noopener noreferrer nofollow">statement</a>,&nbsp;<blockquote>"Every leading indicator is pointed in the right direction, and Americans can rest assured that the best is yet to come."&nbsp;</blockquote>Prior months were also revised. February employment was revised down by 23,000 to negative 156,000, while March was revised up by 7,000 to 178,000 additional roles.<a href="https://www.thestreet.com/crypto/investing/more-than-1200-jobs-are-coming-to-the-crypto-sector-signaling-a-revival" rel="noopener noreferrer nofollow">Related: More than 1,200 jobs are coming to the crypto sector, signaling a revival</a>

Wall Street wants the best crypto talent but there's a catch

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