The rising popularity of Bitcoin has prompted financial services firms to add hundreds of crypto-related jobs in recent years, while growing competition means some are offering large pay bumps, according to a new report.

Banks and other financial firms — including JPMorgan, Morgan Stanley, Wells Fargo, UBS, Citigroup and Goldman Sachs — have added around 1,000 such roles since 2018, Bloomberg writes, citing a report by workforce intelligence firm Revelio Labs that relied on data scraped from LinkedIn.

Goldman leads the pack, with 82 new crypto hires, followed by Wells Fargo, which has brought on 74, and Fidelity, which has hired 68, according to the report cited by the news service.

JPMorgan has added 63 crypto-related jobs — despite chief executive officer Jamie Dimon calling Bitcoin “worthless” less than a month ago — while UBS added 54, Citi hired 43 and Morgan Stanley brought on 39, Revelio Labs found, according to Bloomberg.

The companies have been adding to their research teams and trading desks, and in some cases willing to offer up to 50% compensation boots to attract talent, recruiters tell the news service.

Banks can’t run the risk of losing clients to other banks, so they are willing to "pay a lot," according to Alan Johnson, managing director of Wall Street compensation consultancy Johnson Associates, Bloomberg writes.

Revelio Labs found that at financial firms, crypto experts see an average salary bump of around 9% from the previous roles, the news service writes.

The firms, for the most part, declined comment to Bloomberg. Citigroup told the news service in a statement that it’s monitoring crypto development in light of regulation and other factors as clients’ interest in crypto grows.

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