diff --git a/Cargo.lock b/Cargo.lock
index 60cd76f4..4cefcc55 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -158,34 +158,6 @@ dependencies = [
  "paste",
 ]
 
-[[package]]
-name = "axum"
-version = "0.6.20"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "3b829e4e32b91e643de6eafe82b1d90675f5874230191a4ffbc1b336dec4d6bf"
-dependencies = [
- "async-trait",
- "axum-core 0.3.4",
- "bitflags 1.3.2",
- "bytes",
- "futures-util",
- "http 0.2.12",
- "http-body 0.4.6",
- "hyper 0.14.30",
- "itoa",
- "matchit",
- "memchr",
- "mime",
- "percent-encoding",
- "pin-project-lite",
- "rustversion",
- "serde",
- "sync_wrapper 0.1.2",
- "tower 0.4.13",
- "tower-layer",
- "tower-service",
-]
-
 [[package]]
 name = "axum"
 version = "0.7.6"
@@ -193,13 +165,13 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "8f43644eed690f5374f1af436ecd6aea01cd201f6fbdf0178adaf6907afb2cec"
 dependencies = [
  "async-trait",
- "axum-core 0.4.4",
+ "axum-core",
  "bytes",
  "futures-util",
- "http 1.1.0",
- "http-body 1.0.1",
+ "http",
+ "http-body",
  "http-body-util",
- "hyper 1.4.1",
+ "hyper",
  "hyper-util",
  "itoa",
  "matchit",
@@ -219,23 +191,6 @@ dependencies = [
  "tracing",
 ]
 
-[[package]]
-name = "axum-core"
-version = "0.3.4"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "759fa577a247914fd3f7f76d62972792636412fbfd634cd452f6a385a74d2d2c"
-dependencies = [
- "async-trait",
- "bytes",
- "futures-util",
- "http 0.2.12",
- "http-body 0.4.6",
- "mime",
- "rustversion",
- "tower-layer",
- "tower-service",
-]
-
 [[package]]
 name = "axum-core"
 version = "0.4.4"
@@ -245,8 +200,8 @@ dependencies = [
  "async-trait",
  "bytes",
  "futures-util",
- "http 1.1.0",
- "http-body 1.0.1",
+ "http",
+ "http-body",
  "http-body-util",
  "mime",
  "pin-project-lite",
@@ -263,13 +218,13 @@ version = "0.9.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "73c3220b188aea709cf1b6c5f9b01c3bd936bb08bd2b5184a12b35ac8131b1f9"
 dependencies = [
- "axum 0.7.6",
- "axum-core 0.4.4",
+ "axum",
+ "axum-core",
  "bytes",
  "futures-util",
  "headers",
- "http 1.1.0",
- "http-body 1.0.1",
+ "http",
+ "http-body",
  "http-body-util",
  "mime",
  "pin-project-lite",
@@ -289,10 +244,10 @@ dependencies = [
  "arc-swap",
  "bytes",
  "futures-util",
- "http 1.1.0",
- "http-body 1.0.1",
+ "http",
+ "http-body",
  "http-body-util",
- "hyper 1.4.1",
+ "hyper",
  "hyper-util",
  "pin-project-lite",
  "rustls",
@@ -346,7 +301,7 @@ dependencies = [
  "bitflags 2.6.0",
  "cexpr",
  "clang-sys",
- "itertools",
+ "itertools 0.12.1",
  "lazy_static",
  "lazycell",
  "log",
@@ -897,7 +852,7 @@ version = "0.1.0"
 dependencies = [
  "argon2",
  "async-trait",
- "axum 0.7.6",
+ "axum",
  "axum-extra",
  "axum-server",
  "base64 0.22.1",
@@ -906,9 +861,9 @@ dependencies = [
  "futures-util",
  "hmac",
  "html-escape",
- "http 1.1.0",
+ "http",
  "http-body-util",
- "hyper 1.4.1",
+ "hyper",
  "hyper-util",
  "image",
  "jsonwebtoken",
@@ -953,25 +908,6 @@ dependencies = [
  "xdg",
 ]
 
-[[package]]
-name = "h2"
-version = "0.3.26"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "81fe527a889e1532da5c525686d96d4c2e74cdd345badf8dfef9f6b39dd5f5e8"
-dependencies = [
- "bytes",
- "fnv",
- "futures-core",
- "futures-sink",
- "futures-util",
- "http 0.2.12",
- "indexmap 2.5.0",
- "slab",
- "tokio",
- "tokio-util",
- "tracing",
-]
-
 [[package]]
 name = "h2"
 version = "0.4.6"
@@ -983,7 +919,7 @@ dependencies = [
  "fnv",
  "futures-core",
  "futures-sink",
- "http 1.1.0",
+ "http",
  "indexmap 2.5.0",
  "slab",
  "tokio",
@@ -1024,7 +960,7 @@ dependencies = [
  "base64 0.21.7",
  "bytes",
  "headers-core",
- "http 1.1.0",
+ "http",
  "httpdate",
  "mime",
  "sha1",
@@ -1036,7 +972,7 @@ version = "0.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "54b4a22553d4242c49fddb9ba998a99962b5cc6f22cb5a3482bec22522403ce4"
 dependencies = [
- "http 1.1.0",
+ "http",
 ]
 
 [[package]]
@@ -1089,17 +1025,6 @@ dependencies = [
  "utf8-width",
 ]
 
-[[package]]
-name = "http"
-version = "0.2.12"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "601cbb57e577e2f5ef5be8e7b83f0f63994f25aa94d673e54a92d5c516d101f1"
-dependencies = [
- "bytes",
- "fnv",
- "itoa",
-]
-
 [[package]]
 name = "http"
 version = "1.1.0"
@@ -1120,17 +1045,6 @@ dependencies = [
  "memchr",
 ]
 
-[[package]]
-name = "http-body"
-version = "0.4.6"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7ceab25649e9960c0311ea418d17bee82c0dcec1bd053b5f9a66e265a693bed2"
-dependencies = [
- "bytes",
- "http 0.2.12",
- "pin-project-lite",
-]
-
 [[package]]
 name = "http-body"
 version = "1.0.1"
@@ -1138,7 +1052,7 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "1efedce1fb8e6913f23e0c92de8e62cd5b772a67e7b3946df930a62566c93184"
 dependencies = [
  "bytes",
- "http 1.1.0",
+ "http",
 ]
 
 [[package]]
@@ -1149,8 +1063,8 @@ checksum = "793429d76616a256bcb62c2a2ec2bed781c8307e797e2598c50010f2bee2544f"
 dependencies = [
  "bytes",
  "futures-util",
- "http 1.1.0",
- "http-body 1.0.1",
+ "http",
+ "http-body",
  "pin-project-lite",
 ]
 
@@ -1166,30 +1080,6 @@ version = "1.0.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "df3b46402a9d5adb4c86a0cf463f42e19994e3ee891101b1841f30a545cb49a9"
 
-[[package]]
-name = "hyper"
-version = "0.14.30"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a152ddd61dfaec7273fe8419ab357f33aee0d914c5f4efbf0d96fa749eea5ec9"
-dependencies = [
- "bytes",
- "futures-channel",
- "futures-core",
- "futures-util",
- "h2 0.3.26",
- "http 0.2.12",
- "http-body 0.4.6",
- "httparse",
- "httpdate",
- "itoa",
- "pin-project-lite",
- "socket2",
- "tokio",
- "tower-service",
- "tracing",
- "want",
-]
-
 [[package]]
 name = "hyper"
 version = "1.4.1"
@@ -1199,9 +1089,9 @@ dependencies = [
  "bytes",
  "futures-channel",
  "futures-util",
- "h2 0.4.6",
- "http 1.1.0",
- "http-body 1.0.1",
+ "h2",
+ "http",
+ "http-body",
  "httparse",
  "httpdate",
  "itoa",
@@ -1218,8 +1108,8 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "08afdbb5c31130e3034af566421053ab03787c640246a446327f550d11bcb333"
 dependencies = [
  "futures-util",
- "http 1.1.0",
- "hyper 1.4.1",
+ "http",
+ "hyper",
  "hyper-util",
  "rustls",
  "rustls-native-certs 0.8.0",
@@ -1231,14 +1121,15 @@ dependencies = [
 
 [[package]]
 name = "hyper-timeout"
-version = "0.4.1"
+version = "0.5.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bbb958482e8c7be4bc3cf272a766a2b0bf1a6755e7a6ae777f017a31d11b13b1"
+checksum = "3203a961e5c83b6f5498933e78b6b263e208c197b63e9c6c53cc82ffd3f63793"
 dependencies = [
- "hyper 0.14.30",
+ "hyper",
+ "hyper-util",
  "pin-project-lite",
  "tokio",
- "tokio-io-timeout",
+ "tower-service",
 ]
 
 [[package]]
@@ -1250,9 +1141,9 @@ dependencies = [
  "bytes",
  "futures-channel",
  "futures-util",
- "http 1.1.0",
- "http-body 1.0.1",
- "hyper 1.4.1",
+ "http",
+ "http-body",
+ "hyper",
  "pin-project-lite",
  "socket2",
  "tokio",
@@ -1345,6 +1236,15 @@ dependencies = [
  "either",
 ]
 
+[[package]]
+name = "itertools"
+version = "0.13.0"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "413ee7dfc52ee1a4949ceeb7dbc8a33f2d6c088194d9f922fb8318faf1f01186"
+dependencies = [
+ "either",
+]
+
 [[package]]
 name = "itoa"
 version = "1.0.11"
@@ -1700,9 +1600,9 @@ checksum = "ff011a302c396a5197692431fc1948019154afc178baf7d8e37367442a4601cf"
 
 [[package]]
 name = "opentelemetry"
-version = "0.23.0"
+version = "0.24.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1b69a91d4893e713e06f724597ad630f1fa76057a5e1026c0ca67054a9032a76"
+checksum = "4c365a63eec4f55b7efeceb724f1336f26a9cf3427b70e59e2cd2a5b947fba96"
 dependencies = [
  "futures-core",
  "futures-sink",
@@ -1714,22 +1614,22 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry-jaeger-propagator"
-version = "0.2.0"
+version = "0.3.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c190755e0aeec909343896f94670446ac686dd1eaf5e2beb4149a7148cfe1d6c"
+checksum = "fc0a68a13b92fc708d875ad659b08b35d08b8ef2403e01944b39ca21e5b08b17"
 dependencies = [
  "opentelemetry",
 ]
 
 [[package]]
 name = "opentelemetry-otlp"
-version = "0.16.0"
+version = "0.17.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a94c69209c05319cdf7460c6d4c055ed102be242a0a6245835d7bc42c6ec7f54"
+checksum = "6b925a602ffb916fb7421276b86756027b37ee708f9dce2dbdcc51739f07e727"
 dependencies = [
  "async-trait",
  "futures-core",
- "http 0.2.12",
+ "http",
  "opentelemetry",
  "opentelemetry-proto",
  "opentelemetry_sdk",
@@ -1741,9 +1641,9 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry-prometheus"
-version = "0.16.0"
+version = "0.17.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "5e1a24eafe47b693cb938f8505f240dc26c71db60df9aca376b4f857e9653ec7"
+checksum = "cc4191ce34aa274621861a7a9d68dbcf618d5b6c66b10081631b61fd81fbc015"
 dependencies = [
  "once_cell",
  "opentelemetry",
@@ -1754,9 +1654,9 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry-proto"
-version = "0.6.0"
+version = "0.7.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "984806e6cf27f2b49282e2a05e288f30594f3dbc74eb7a6e99422bc48ed78162"
+checksum = "30ee9f20bff9c984511a02f082dc8ede839e4a9bf15cc2487c8d6fea5ad850d9"
 dependencies = [
  "opentelemetry",
  "opentelemetry_sdk",
@@ -1766,35 +1666,25 @@ dependencies = [
 
 [[package]]
 name = "opentelemetry_sdk"
-version = "0.23.0"
+version = "0.24.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ae312d58eaa90a82d2e627fd86e075cf5230b3f11794e2ed74199ebbe572d4fd"
+checksum = "692eac490ec80f24a17828d49b40b60f5aeaccdfe6a503f939713afd22bc28df"
 dependencies = [
  "async-trait",
  "futures-channel",
  "futures-executor",
  "futures-util",
  "glob",
- "lazy_static",
  "once_cell",
  "opentelemetry",
- "ordered-float",
  "percent-encoding",
  "rand",
+ "serde_json",
  "thiserror",
  "tokio",
  "tokio-stream",
 ]
 
-[[package]]
-name = "ordered-float"
-version = "4.2.2"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4a91171844676f8c7990ce64959210cd2eaef32c2612c50f9fae9f8aaa6065a6"
-dependencies = [
- "num-traits",
-]
-
 [[package]]
 name = "overload"
 version = "0.1.1"
@@ -2020,9 +1910,9 @@ dependencies = [
 
 [[package]]
 name = "prost"
-version = "0.12.6"
+version = "0.13.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "deb1435c188b76130da55f17a466d252ff7b1418b2ad3e037d127b94e3411f29"
+checksum = "7b0487d90e047de87f984913713b85c601c05609aad5b0df4b4573fbf69aa13f"
 dependencies = [
  "bytes",
  "prost-derive",
@@ -2030,12 +1920,12 @@ dependencies = [
 
 [[package]]
 name = "prost-derive"
-version = "0.12.6"
+version = "0.13.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "81bddcdb20abf9501610992b6759a4c888aef7d1a7247ef75e2404275ac24af1"
+checksum = "e9552f850d5f0964a4e4d0bf306459ac29323ddfbae05e35a7c0d35cb0803cc5"
 dependencies = [
  "anyhow",
- "itertools",
+ "itertools 0.13.0",
  "proc-macro2",
  "quote",
  "syn",
@@ -2203,11 +2093,11 @@ dependencies = [
  "bytes",
  "futures-core",
  "futures-util",
- "h2 0.4.6",
- "http 1.1.0",
- "http-body 1.0.1",
+ "h2",
+ "http",
+ "http-body",
  "http-body-util",
- "hyper 1.4.1",
+ "hyper",
  "hyper-rustls",
  "hyper-util",
  "ipnet",
@@ -2304,7 +2194,7 @@ dependencies = [
  "assign",
  "bytes",
  "date_header",
- "http 1.1.0",
+ "http",
  "js_int",
  "js_option",
  "maplit",
@@ -2327,7 +2217,7 @@ dependencies = [
  "base64 0.22.1",
  "bytes",
  "form_urlencoded",
- "http 1.1.0",
+ "http",
  "indexmap 2.5.0",
  "js_int",
  "konst",
@@ -2377,7 +2267,7 @@ version = "0.9.0"
 source = "git+https://github.com/ruma/ruma?branch=main#1ae98db9c44f46a590f4c76baf5cef70ebb6970d"
 dependencies = [
  "bytes",
- "http 1.1.0",
+ "http",
  "httparse",
  "js_int",
  "memchr",
@@ -2442,7 +2332,7 @@ version = "0.3.0"
 source = "git+https://github.com/ruma/ruma?branch=main#1ae98db9c44f46a590f4c76baf5cef70ebb6970d"
 dependencies = [
  "headers",
- "http 1.1.0",
+ "http",
  "http-auth",
  "ruma-common",
  "thiserror",
@@ -2470,7 +2360,7 @@ name = "ruma-state-res"
 version = "0.11.0"
 source = "git+https://github.com/ruma/ruma?branch=main#1ae98db9c44f46a590f4c76baf5cef70ebb6970d"
 dependencies = [
- "itertools",
+ "itertools 0.12.1",
  "js_int",
  "ruma-common",
  "ruma-events",
@@ -3097,16 +2987,6 @@ dependencies = [
  "windows-sys 0.52.0",
 ]
 
-[[package]]
-name = "tokio-io-timeout"
-version = "1.2.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "30b74022ada614a1b4834de765f9bb43877f910cc8ce4be40e89042c9223a8bf"
-dependencies = [
- "pin-project-lite",
- "tokio",
-]
-
 [[package]]
 name = "tokio-macros"
 version = "2.4.0"
@@ -3201,23 +3081,26 @@ dependencies = [
 
 [[package]]
 name = "tonic"
-version = "0.11.0"
+version = "0.12.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "76c4eb7a4e9ef9d4763600161f12f5070b92a578e1b634db88a6887844c91a13"
+checksum = "c6f6ba989e4b2c58ae83d862d3a3e27690b6e3ae630d0deb59f3697f32aa88ad"
 dependencies = [
  "async-stream",
  "async-trait",
- "axum 0.6.20",
- "base64 0.21.7",
+ "axum",
+ "base64 0.22.1",
  "bytes",
- "h2 0.3.26",
- "http 0.2.12",
- "http-body 0.4.6",
- "hyper 0.14.30",
+ "h2",
+ "http",
+ "http-body",
+ "http-body-util",
+ "hyper",
  "hyper-timeout",
+ "hyper-util",
  "percent-encoding",
  "pin-project",
  "prost",
+ "socket2",
  "tokio",
  "tokio-stream",
  "tower 0.4.13",
@@ -3268,8 +3151,8 @@ checksum = "41515cc9e193536d93fd0dbbea0c73819c08eca76e0b30909a325c3ec90985bb"
 dependencies = [
  "bitflags 2.6.0",
  "bytes",
- "http 1.1.0",
- "http-body 1.0.1",
+ "http",
+ "http-body",
  "pin-project-lite",
  "tower 0.5.1",
  "tower-layer",
@@ -3346,9 +3229,9 @@ dependencies = [
 
 [[package]]
 name = "tracing-opentelemetry"
-version = "0.24.0"
+version = "0.25.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f68803492bf28ab40aeccaecc7021096bd256baf7ca77c3d425d89b35a7be4e4"
+checksum = "a9784ed4da7d921bc8df6963f8c80a0e4ce34ba6ba76668acadd3edbd985ff3b"
 dependencies = [
  "js-sys",
  "once_cell",
diff --git a/Cargo.toml b/Cargo.toml
index 192aa6d4..8bd47de4 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -106,11 +106,11 @@ jsonwebtoken = "9.3.0"
 lru-cache = "0.1.2"
 num_cpus = "1.16.0"
 once_cell = "1.19.0"
-opentelemetry = "0.23.0"
-opentelemetry-jaeger-propagator = "0.2.0"
-opentelemetry-otlp = "0.16.0"
-opentelemetry-prometheus = "0.16.0"
-opentelemetry_sdk = { version = "0.23.0", features = ["rt-tokio"] }
+opentelemetry = "0.24.0"
+opentelemetry-jaeger-propagator = "0.3.0"
+opentelemetry-otlp = "0.17.0"
+opentelemetry-prometheus = "0.17.0"
+opentelemetry_sdk = { version = "0.24.0", features = ["rt-tokio"] }
 parking_lot = { version = "0.12.3", optional = true }
 phf = { version = "0.11.2", features = ["macros"] }
 prometheus = "0.13.4"
@@ -137,7 +137,7 @@ tower = { version = "0.5.1", features = ["util"] }
 tower-http = { version = "0.6.0", features = ["add-extension", "cors", "sensitive-headers", "trace", "util"] }
 tracing = { version = "0.1.40", features = [] }
 tracing-flame = "0.2.0"
-tracing-opentelemetry = "0.24.0"
+tracing-opentelemetry = "0.25.0"
 tracing-subscriber = { version = "0.3.18", features = ["env-filter", "json"] }
 trust-dns-resolver = "0.23.2"
 xdg = "2.5.2"
diff --git a/src/observability.rs b/src/observability.rs
index 8e3c662c..fb5df965 100644
--- a/src/observability.rs
+++ b/src/observability.rs
@@ -10,10 +10,7 @@ use axum::{
 };
 use http::Method;
 use once_cell::sync::Lazy;
-use opentelemetry::{
-    metrics::{MeterProvider, Unit},
-    KeyValue,
-};
+use opentelemetry::{metrics::MeterProvider, trace::TracerProvider, KeyValue};
 use opentelemetry_otlp::WithExportConfig;
 use opentelemetry_sdk::{
     metrics::{new_view, Aggregation, Instrument, SdkMeterProvider, Stream},
@@ -168,10 +165,10 @@ pub(crate) fn init(
             if let Some(endpoint) = &config.observability.traces.endpoint {
                 exporter = exporter.with_endpoint(endpoint);
             }
-            let tracer = opentelemetry_otlp::new_pipeline()
+            let tracer_provider = opentelemetry_otlp::new_pipeline()
                 .tracing()
                 .with_trace_config(
-                    opentelemetry_sdk::trace::config().with_resource(
+                    opentelemetry_sdk::trace::Config::default().with_resource(
                         standard_resource(
                             config.observability.traces.service_name.clone(),
                         ),
@@ -179,6 +176,18 @@ pub(crate) fn init(
                 )
                 .with_exporter(exporter)
                 .install_batch(opentelemetry_sdk::runtime::Tokio)?;
+
+            // The passed value sets the library name, and `""` seems to be
+            // morally equivalent to passing `None`, which is probably fine
+            // because what other library is there to use for this anyway?
+            //
+            // Prior to opentelemetry v0.24, this value was set for us by the
+            // opentelemetry-otlp crate. Trying to automate getting the right
+            // values doesn't seem worth it, as alluded to above.
+            let tracer = tracer_provider.tracer("");
+
+            opentelemetry::global::set_tracer_provider(tracer_provider);
+
             Ok((tracing_opentelemetry::layer().with_tracer(tracer), ()))
         },
     )?;
@@ -315,7 +324,7 @@ impl Metrics {
 
         let http_requests_histogram = meter
             .f64_histogram(http_requests_histogram_name)
-            .with_unit(Unit::new("seconds"))
+            .with_unit("seconds")
             .with_description("Histogram of HTTP requests")
             .init();