To my concept I don't think that it is most important for the approval of ETF before Bitcoin price increase . But to me it will be a positive affect  in the  Bitcoin market if ETF is approved we can see the market  cap over taking previous years price very easily . I don't think that approval of ETF is a must for Bitcoin price to increase people give much importance even though it is worthless for these kind of news but if it is accepted that will be a positive effect .