Bain joined Celtic on loan from Scottish Premiership rivals Dundee during the January transfer window, and the player has expressed his desire to stay at the Bhoys beyond the summer.
The 26-year-old made a strong impression during the recent Old Firm derby, and Celtic are reportedly in talks to sign him permanently in the summer transfer window.
Hibernian and Heart of Midlothian are also reported to be interested in Bain, which shows the player has plenty of options to chose from in the summer.
Wolves are looking to sign a goalkeeper in the summer, and are interested in securing the services of Bain should they return to the Premier League.
Nuno Santo’s side are top of the 2017-18 Championship season, and are most likely to get an automatic promotion to the Premier League this season.
A move to the Premier League could be a tempting option, but Celtic can lure him with the offer of European football.