The ETF was actually rejected but the price of bitcoin was still steady and no signs of major volatility. The only thing is that after the ETF also follows the conflict and possible splitting of bitcoin into BTC and BTU. The news of hardfork storming bitcoin has caused panic to the bitcoin community and that stir has led to the transfer of investors to DASH and Ethereum.  The price pump in ETH and DASH was a clear sign that many feared of what will happen to bitcoin thus they shifted to these two altcoins.