Crash, if you can call it that, was likely due to people "buying the rumours and selling the news". i.e. those who loaded up earlier when approval of ETFs was uncertain are now taking their profits. Many will be looking to buy back at lower levels.

As for the actual, non-speculative, impact of ETFs - this will be delayed in time. Current demand is probably mostly satisfied with over-the-counter (OTC) deals (e.g. Coinbase's own stash) or bitcoins acquired earlier by the ETFs founders. Once those run out, they'll have to start buying on the market, driving the price up.