Many of the long-running “old-school” shanzhai coins that are currently rising have ETF backing. For example, take the recent $AVAX and $LTC . From this perspective, when a shanzhai coin gets approved for a spot ETF, to some extent it can be said to have entered Wall Street’s line of sight—so it tends to receive higher attention and attracts more funding. At present, publicly available ETF data statistics show that the U.S. market already has at least 9 cryptocurrencies with spot-type crypto ETPs, namely BTC, ETH, SOL, XRP, AVAX, DOGE, LTC, LINK, and DOT.
Then, as of now, basically all of them have risen quite a lot. The only ones that haven’t really surged are $DOT and LINK.