I've been wondering the same thing along the lines of will the ETF offer shares in coins that the Winkies already own (not affecting the market) or will new coins be bought up quickly according to demand (cue market)?
I noticed bitcoinity showed itBit as the USD volume leader during the pump, although its dropped to third place now. Bitcoin.com claims itBit makes its OTC trades publicly view-able, so I suspect bitcoinity includes its OTC trades in the volume calculations.
Was the fact itBit suddenly took over as volume leader due to somebody buying OTC coins for the ETF?
https://news.bitcoin.com/itbit-tradeblock-blockchains-big-data/ItBits collaboration with TradeBlock will enable its clientele and the public to view its Over The Counter trading data, which will give more perspective and resolution to the exchanges OTC transactions.