19-year-old defender Pond joined Wolves from Exeter City in September last summer and has so far featured in 13 Premier League 2 games for the club.
His academy team-mate Fraser, on the other hand, has 23 Premier League 2 appearances against his name, having made nine goal contributions.
He was also named on the bench for Wolves’ Premier League match against Brighton last November.
Now with Julen Lopetegui making his plans for the upcoming season, the two youngsters might be sent out in order to gather more first-team experience.
Shrewsbury Town, who are currently without a manager, are keen on taking the two youngsters on season-long loans.
The club’s director of football Micky Moore is taking care of the club’s transfer business and he has a reputation for signing young prospects.
Sending defender Pond and striker Fraser on loan to League One could see the pair gain valuable experience away from Molineux next season.