A second ETF application was rejected further and the market reacted more to it than the first...
If thats the real reason this could be an easy place to buy, depends on secondary reasons and speculations. The only ETF that matters really at moment is the one that finally announces in February because it relates to regulated Futures markets and has a far higher chance of passing review.
I dont know if that anticipation is already in the price but people are typically only looking to the immediate boost from ETF now I guess.