Why on Earth would Wall Street embrace something out of their control? Furthermore, why would the banking community encourage its adoption? The technology behind Bitcoin is 100% incompatible with regulated, centralized banking. I think "Wall Street" sees Bitcoin as yet another thing they can pump and dump.
The weather is beyond wall streets control, and it doesn't story corn futures from being traded.
There's a difference between speculating on the direction of the weather and directly investing IN the weather, if that were even possible. In the early days of the stock market, "traders" could only bet on the direction of price movement rather than actually own a stake in a company. That's the sort of thing you're talking about. So sure, they could treat Bitcoin like an arbitrary thing that gets pushed up and down, but that wouldn't make Bitcoin any more legitimate as a currency/store of value/etc.