The Spain international has just 18 months remaining on his contract at Molineux and is seemingly unlikely to pen fresh terms unless he receives a significant pay rise.
Meanwhile, having been appointed as Spurs' new head coach as recently as November, Antonio Conte is eager to strengthen his squad during the January window.
According to ESPN, that has resulted in the Spurs hierarchy initiating contact with their counterparts at Wolves as they bid to get a deal over the line.
The report suggests that Wolves are open to doing business at £20m, while Traore is interested in making the switch to North London over the coming weeks.
Despite the 25-year-old spending much of his career as a winger, Conte is allegedly keen to use Traore as a wing-back. body check tags ::