diff --git a/Cargo.lock b/Cargo.lock
index 9db85e225..52ff2ba9a 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1655,16 +1655,6 @@ dependencies = [
  "minimal-lexical",
 ]
 
-[[package]]
-name = "nu-ansi-term"
-version = "0.46.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "77a8165726e8236064dbb45459242600304b42a5ea24ee2948e18e023bf7ba84"
-dependencies = [
- "overload",
- "winapi 0.3.9",
-]
-
 [[package]]
 name = "num-conv"
 version = "0.1.0"
@@ -1824,12 +1814,6 @@ dependencies = [
  "num-traits",
 ]
 
-[[package]]
-name = "overload"
-version = "0.1.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b15813163c1d831bf4a13c3610c05c0d03b39feb07f7e09fa234dac9b15aaf39"
-
 [[package]]
 name = "page_size"
 version = "0.6.0"
@@ -3141,7 +3125,6 @@ version = "0.1.40"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "c3523ab5a71916ccf420eebdf5521fcef02141234bbc0b8a49f2fdc4544364ef"
 dependencies = [
- "log",
  "pin-project-lite",
  "tracing-attributes",
  "tracing-core",
@@ -3179,17 +3162,6 @@ dependencies = [
  "tracing-core",
 ]
 
-[[package]]
-name = "tracing-log"
-version = "0.2.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ee855f1f400bd0e5c02d150ae5de3840039a3f54b025156404e34c23c03f47c3"
-dependencies = [
- "log",
- "once_cell",
- "tracing-core",
-]
-
 [[package]]
 name = "tracing-opentelemetry"
 version = "0.21.0"
@@ -3202,7 +3174,7 @@ dependencies = [
  "smallvec",
  "tracing",
  "tracing-core",
- "tracing-log 0.1.4",
+ "tracing-log",
  "tracing-subscriber",
 ]
 
@@ -3213,15 +3185,12 @@ source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "ad0f048c97dbd9faa9b7df56362b8ebcaa52adb06b498c050d2f4e32f90a7a8b"
 dependencies = [
  "matchers",
- "nu-ansi-term",
  "once_cell",
  "regex",
  "sharded-slab",
- "smallvec",
  "thread_local",
  "tracing",
  "tracing-core",
- "tracing-log 0.2.0",
 ]
 
 [[package]]
diff --git a/Cargo.toml b/Cargo.toml
index 701b40d50..6392d8d48 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -14,6 +14,18 @@ edition = "2018"
 [features]
 liquid = [ "elements" ]
 electrum-discovery = [ "electrum-client"]
+default = ["no-otlp-tracing"]
+otlp-tracing = [
+    "tracing/max_level_trace",
+    "tracing-subscriber",
+    "opentelemetry",
+    "tracing-opentelemetry",
+    "opentelemetry-otlp",
+    "opentelemetry-semantic-conventions"
+]
+no-otlp-tracing = [
+    "tracing/max_level_off"
+]
 
 [dependencies]
 arraydeque = "0.5.1"
@@ -52,12 +64,12 @@ hyper = "0.14"
 hyperlocal = "0.8"
 # close to same tokio version as dependent by hyper v0.14 and hyperlocal 0.8 -- things can go awry if they mismatch
 tokio = { version = "1", features = ["sync", "macros", "rt-multi-thread", "rt"] }
-opentelemetry = { version = "0.20.0", features = ["rt-tokio"] }
-tracing-opentelemetry = "0.21.0"
-opentelemetry-otlp = { version = "0.13.0", default-features = false, features = ["http-proto", "reqwest-client"] }
-tracing-subscriber = { version = "0.3.17", features = ["env-filter"] }
-opentelemetry-semantic-conventions = "0.12.0"
-tracing = { version = "0.1.40", features = ["async-await", "log"] }
+opentelemetry = { version = "0.20.0", features = ["rt-tokio"], optional = true }
+tracing-opentelemetry = {  version = "0.21.0", optional = true }
+opentelemetry-otlp = { version = "0.13.0", default-features = false, features = ["http-proto", "reqwest-client"], optional = true }
+tracing-subscriber = { version = "0.3.17", default-features = false, features = ["env-filter", "fmt"], optional = true }
+opentelemetry-semantic-conventions = { version = "0.12.0", optional = true }
+tracing = { version = "0.1.40", default-features = false, features = ["attributes"], optional = true }
 
 # optional dependencies for electrum-discovery
 electrum-client = { version = "0.8", optional = true }
diff --git a/src/bin/electrs.rs b/src/bin/electrs.rs
index fb25e68a8..a2b6765e2 100644
--- a/src/bin/electrs.rs
+++ b/src/bin/electrs.rs
@@ -20,6 +20,9 @@ use electrs::{
     signal::Waiter,
 };
 
+#[cfg(feature = "otlp-tracing")]
+use electrs::otlp_trace;
+
 #[cfg(feature = "liquid")]
 use electrs::elements::AssetRegistry;
 use electrs::metrics::MetricOpts;
@@ -85,9 +88,12 @@ fn run_server(config: Arc<Config>) -> Result<()> {
         match Mempool::update(&mempool, &daemon) {
             Ok(_) => break,
             Err(e) => {
-                warn!("Error performing initial mempool update, trying again in 5 seconds: {}", e.display_chain());
+                warn!(
+                    "Error performing initial mempool update, trying again in 5 seconds: {}",
+                    e.display_chain()
+                );
                 signal.wait(Duration::from_secs(5), false)?;
-            },
+            }
         }
     }
 
@@ -117,7 +123,6 @@ fn run_server(config: Arc<Config>) -> Result<()> {
     ));
 
     loop {
-
         main_loop_count.inc();
 
         if let Err(err) = signal.wait(Duration::from_secs(5), true) {
@@ -137,7 +142,10 @@ fn run_server(config: Arc<Config>) -> Result<()> {
         // Update mempool
         if let Err(e) = Mempool::update(&mempool, &daemon) {
             // Log the error if the result is an Err
-            warn!("Error updating mempool, skipping mempool update: {}", e.display_chain());
+            warn!(
+                "Error updating mempool, skipping mempool update: {}",
+                e.display_chain()
+            );
         }
 
         // Update subscribed clients
@@ -147,10 +155,22 @@ fn run_server(config: Arc<Config>) -> Result<()> {
     Ok(())
 }
 
-fn main() {
+fn main_() {
     let config = Arc::new(Config::from_args());
     if let Err(e) = run_server(config) {
         error!("server failed: {}", e.display_chain());
         process::exit(1);
     }
 }
+
+#[cfg(not(feature = "otlp-tracing"))]
+fn main() {
+    main_();
+}
+
+#[cfg(feature = "otlp-tracing")]
+#[tokio::main]
+async fn main() {
+    let _tracing_guard = otlp_trace::init_tracing("electrs");
+    main_()
+}
diff --git a/src/bin/tx-fingerprint-stats.rs b/src/bin/tx-fingerprint-stats.rs
index afe980f8c..aca888111 100644
--- a/src/bin/tx-fingerprint-stats.rs
+++ b/src/bin/tx-fingerprint-stats.rs
@@ -82,13 +82,15 @@ fn main() {
 
         //info!("{:?},{:?}", txid, blockid);
 
-        let prevouts = chain.lookup_txos(
-            tx.input
-                .iter()
-                .filter(|txin| has_prevout(txin))
-                .map(|txin| txin.previous_output)
-                .collect(),
-        ).unwrap();
+        let prevouts = chain
+            .lookup_txos(
+                tx.input
+                    .iter()
+                    .filter(|txin| has_prevout(txin))
+                    .map(|txin| txin.previous_output)
+                    .collect(),
+            )
+            .unwrap();
 
         let total_out: u64 = tx.output.iter().map(|out| out.value.to_sat()).sum();
         let small_out = tx
diff --git a/src/config.rs b/src/config.rs
index 8696ecf8f..0bfb66d03 100644
--- a/src/config.rs
+++ b/src/config.rs
@@ -379,6 +379,7 @@ impl Config {
             stderrlog::Timestamp::Off
         });
         log.init().expect("logging initialization failed");
+
         let config = Config {
             log,
             network_type,
diff --git a/src/daemon.rs b/src/daemon.rs
index 457bf4230..3d4d8aacd 100644
--- a/src/daemon.rs
+++ b/src/daemon.rs
@@ -17,6 +17,8 @@ use bitcoin::consensus::encode::{deserialize, serialize_hex};
 #[cfg(feature = "liquid")]
 use elements::encode::{deserialize, serialize_hex};
 
+use tracing::instrument;
+
 use crate::chain::{Block, BlockHash, BlockHeader, Network, Transaction, Txid};
 use crate::metrics::{HistogramOpts, HistogramVec, Metrics};
 use crate::signal::Waiter;
@@ -36,6 +38,7 @@ lazy_static! {
     );
 }
 
+#[instrument(skip_all, name = "Daemon::parse_hash<T>")]
 fn parse_hash<T>(value: &Value) -> Result<T>
 where
     T: FromStr,
@@ -49,6 +52,7 @@ where
     .chain_err(|| format!("non-hex value: {}", value))?)
 }
 
+#[instrument(skip_all, name = "Daemon::header_from_value")]
 fn header_from_value(value: Value) -> Result<BlockHeader> {
     let header_hex = value
         .as_str()
@@ -140,6 +144,7 @@ struct Connection {
     signal: Waiter,
 }
 
+#[instrument(skip_all, name = "Daemon::tcp_connect")]
 fn tcp_connect(addr: SocketAddr, signal: &Waiter) -> Result<TcpStream> {
     loop {
         match TcpStream::connect_timeout(&addr, *DAEMON_CONNECTION_TIMEOUT) {
@@ -162,6 +167,7 @@ fn tcp_connect(addr: SocketAddr, signal: &Waiter) -> Result<TcpStream> {
 }
 
 impl Connection {
+    #[instrument(skip_all, name = "Daemon::Connection::new")]
     fn new(
         addr: SocketAddr,
         cookie_getter: Arc<dyn CookieGetter>,
@@ -181,10 +187,12 @@ impl Connection {
         })
     }
 
+    #[instrument(skip(self))]
     fn reconnect(&self) -> Result<Connection> {
         Connection::new(self.addr, self.cookie_getter.clone(), self.signal.clone())
     }
 
+    #[instrument(skip_all, name = "Daemon::Connection::send")]
     fn send(&mut self, request: &str) -> Result<()> {
         let cookie = &self.cookie_getter.get()?;
         let msg = format!(
@@ -198,6 +206,7 @@ impl Connection {
         })
     }
 
+    #[instrument(skip_all, name = "Daemon::Connection::recv")]
     fn recv(&mut self) -> Result<String> {
         // TODO: use proper HTTP parser.
         let mut in_header = true;
@@ -353,6 +362,7 @@ impl Daemon {
         Ok(daemon)
     }
 
+    #[instrument(skip(self))]
     pub fn reconnect(&self) -> Result<Daemon> {
         Ok(Daemon {
             daemon_dir: self.daemon_dir.clone(),
@@ -366,6 +376,7 @@ impl Daemon {
         })
     }
 
+    #[instrument(skip_all, name = "Daemon::list_blk_files")]
     pub fn list_blk_files(&self) -> Result<Vec<PathBuf>> {
         let path = self.blocks_dir.join("blk*.dat");
         debug!("listing block files at {:?}", path);
@@ -381,6 +392,7 @@ impl Daemon {
         self.network.magic()
     }
 
+    #[instrument(skip_all, name = "Daemon::call_jsonrpc")]
     fn call_jsonrpc(&self, method: &str, request: &Value) -> Result<Value> {
         let mut conn = self.conn.lock().unwrap();
         let timer = self.latency.with_label_values(&[method]).start_timer();
@@ -398,6 +410,7 @@ impl Daemon {
         Ok(result)
     }
 
+    #[instrument(skip_all, name = "Daemon::handle_request_batch")]
     fn handle_request_batch(&self, method: &str, params_list: &[Value]) -> Result<Vec<Value>> {
         let id = self.message_id.next();
         let chunks = params_list
@@ -420,6 +433,7 @@ impl Daemon {
         Ok(results)
     }
 
+    #[instrument(skip_all, name = "Daemon::retry_request_batch")]
     fn retry_request_batch(&self, method: &str, params_list: &[Value]) -> Result<Vec<Value>> {
         loop {
             match self.handle_request_batch(method, params_list) {
@@ -435,36 +449,43 @@ impl Daemon {
         }
     }
 
+    #[instrument(skip_all, name = "Daemon::request")]
     fn request(&self, method: &str, params: Value) -> Result<Value> {
         let mut values = self.retry_request_batch(method, &[params])?;
         assert_eq!(values.len(), 1);
         Ok(values.remove(0))
     }
 
+    #[instrument(skip_all, name = "Daemon::requests")]
     fn requests(&self, method: &str, params_list: &[Value]) -> Result<Vec<Value>> {
         self.retry_request_batch(method, params_list)
     }
 
     // bitcoind JSONRPC API:
 
+    #[instrument(skip_all, name = "Daemon::getblockchaininfo")]
     pub fn getblockchaininfo(&self) -> Result<BlockchainInfo> {
         let info: Value = self.request("getblockchaininfo", json!([]))?;
         Ok(from_value(info).chain_err(|| "invalid blockchain info")?)
     }
 
+    #[instrument(skip_all, name = "Daemon::getnetworkinfo")]
     fn getnetworkinfo(&self) -> Result<NetworkInfo> {
         let info: Value = self.request("getnetworkinfo", json!([]))?;
         Ok(from_value(info).chain_err(|| "invalid network info")?)
     }
 
+    #[instrument(skip_all, name = "Daemon::getbestblockhash")]
     pub fn getbestblockhash(&self) -> Result<BlockHash> {
         parse_hash(&self.request("getbestblockhash", json!([]))?)
     }
 
+    #[instrument(skip_all, name = "Daemon::getblockheader")]
     pub fn getblockheader(&self, blockhash: &BlockHash) -> Result<BlockHeader> {
         header_from_value(self.request("getblockheader", json!([blockhash, /*verbose=*/ false]))?)
     }
 
+    #[instrument(skip_all, name = "Daemon::getblockheaders")]
     pub fn getblockheaders(&self, heights: &[usize]) -> Result<Vec<BlockHeader>> {
         let heights: Vec<Value> = heights.iter().map(|height| json!([height])).collect();
         let params_list: Vec<Value> = self
@@ -479,6 +500,7 @@ impl Daemon {
         Ok(result)
     }
 
+    #[instrument(skip_all, name = "Daemon::getblock")]
     pub fn getblock(&self, blockhash: &BlockHash) -> Result<Block> {
         let block =
             block_from_value(self.request("getblock", json!([blockhash, /*verbose=*/ false]))?)?;
@@ -486,10 +508,12 @@ impl Daemon {
         Ok(block)
     }
 
+    #[instrument(skip_all, name = "Daemon::getblock_raw")]
     pub fn getblock_raw(&self, blockhash: &BlockHash, verbose: u32) -> Result<Value> {
         self.request("getblock", json!([blockhash, verbose]))
     }
 
+    #[instrument(skip_all, name = "Daemon::getblocks")]
     pub fn getblocks(&self, blockhashes: &[BlockHash]) -> Result<Vec<Block>> {
         let params_list: Vec<Value> = blockhashes
             .iter()
@@ -503,6 +527,7 @@ impl Daemon {
         Ok(blocks)
     }
 
+    #[instrument(skip_all, name = "Daemon::gettransactions")]
     pub fn gettransactions(&self, txhashes: &[&Txid]) -> Result<Vec<Transaction>> {
         let params_list: Vec<Value> = txhashes
             .iter()
@@ -518,6 +543,7 @@ impl Daemon {
         Ok(txs)
     }
 
+    #[instrument(skip_all, name = "Daemon::gettransaction_raw")]
     pub fn gettransaction_raw(
         &self,
         txid: &Txid,
@@ -527,20 +553,24 @@ impl Daemon {
         self.request("getrawtransaction", json!([txid, verbose, blockhash]))
     }
 
+    #[instrument(skip_all, name = "getmempooltx")]
     pub fn getmempooltx(&self, txhash: &Txid) -> Result<Transaction> {
         let value = self.request("getrawtransaction", json!([txhash, /*verbose=*/ false]))?;
         tx_from_value(value)
     }
 
+    #[instrument(skip_all, name = "getmempooltxids")]
     pub fn getmempooltxids(&self) -> Result<HashSet<Txid>> {
         let res = self.request("getrawmempool", json!([/*verbose=*/ false]))?;
         Ok(serde_json::from_value(res).chain_err(|| "invalid getrawmempool reply")?)
     }
 
+    #[instrument(skip_all, name = "broadcast")]
     pub fn broadcast(&self, tx: &Transaction) -> Result<Txid> {
         self.broadcast_raw(&serialize_hex(tx))
     }
 
+    #[instrument(skip_all, name = "broadcast_raw")]
     pub fn broadcast_raw(&self, txhex: &str) -> Result<Txid> {
         let txid = self.request("sendrawtransaction", json!([txhex]))?;
         Ok(
@@ -552,8 +582,12 @@ impl Daemon {
     // Get estimated feerates for the provided confirmation targets using a batch RPC request
     // Missing estimates are logged but do not cause a failure, whatever is available is returned
     #[allow(clippy::float_cmp)]
+    #[instrument(skip_all, name = "Daemon::estimatesmartfee_batch")]
     pub fn estimatesmartfee_batch(&self, conf_targets: &[u16]) -> Result<HashMap<u16, f64>> {
-        let params_list: Vec<Value> = conf_targets.iter().map(|t| json!([t, "ECONOMICAL"])).collect();
+        let params_list: Vec<Value> = conf_targets
+            .iter()
+            .map(|t| json!([t, "ECONOMICAL"]))
+            .collect();
 
         Ok(self
             .requests("estimatesmartfee", &params_list)?
@@ -583,6 +617,7 @@ impl Daemon {
             .collect())
     }
 
+    #[instrument(skip_all, name = "Daemon::get_all_headers")]
     fn get_all_headers(&self, tip: &BlockHash) -> Result<Vec<BlockHeader>> {
         let info: Value = self.request("getblockheader", json!([tip]))?;
         let tip_height = info
@@ -610,6 +645,7 @@ impl Daemon {
     }
 
     // Returns a list of BlockHeaders in ascending height (i.e. the tip is last).
+    #[instrument(skip_all, name = "Daemon::get_new_headers")]
     pub fn get_new_headers(
         &self,
         indexed_headers: &HeaderList,
@@ -642,6 +678,7 @@ impl Daemon {
         Ok(new_headers)
     }
 
+    #[instrument(skip_all, name = "Daemon::get_relayfee")]
     pub fn get_relayfee(&self) -> Result<f64> {
         let relayfee = self.getnetworkinfo()?.relayfee;
 
diff --git a/src/electrum/discovery.rs b/src/electrum/discovery.rs
index cf70221f6..f5bb85588 100644
--- a/src/electrum/discovery.rs
+++ b/src/electrum/discovery.rs
@@ -547,23 +547,33 @@ mod tests {
             false,
             None,
         ));
-        discovery.add_default_server(
-            "electrum.blockstream.info".into(),
-            vec![Service::Tcp(60001)],
-        ).unwrap();
-        discovery.add_default_server("testnet.hsmiths.com".into(), vec![Service::Ssl(53012)]).unwrap();
-        discovery.add_default_server(
-            "tn.not.fyi".into(),
-            vec![Service::Tcp(55001), Service::Ssl(55002)],
-        ).unwrap();
-        discovery.add_default_server(
-            "electrum.blockstream.info".into(),
-            vec![Service::Tcp(60001), Service::Ssl(60002)],
-        ).unwrap();
-        discovery.add_default_server(
-            "explorerzydxu5ecjrkwceayqybizmpjjznk5izmitf2modhcusuqlid.onion".into(),
-            vec![Service::Tcp(143)],
-        ).unwrap();
+        discovery
+            .add_default_server(
+                "electrum.blockstream.info".into(),
+                vec![Service::Tcp(60001)],
+            )
+            .unwrap();
+        discovery
+            .add_default_server("testnet.hsmiths.com".into(), vec![Service::Ssl(53012)])
+            .unwrap();
+        discovery
+            .add_default_server(
+                "tn.not.fyi".into(),
+                vec![Service::Tcp(55001), Service::Ssl(55002)],
+            )
+            .unwrap();
+        discovery
+            .add_default_server(
+                "electrum.blockstream.info".into(),
+                vec![Service::Tcp(60001), Service::Ssl(60002)],
+            )
+            .unwrap();
+        discovery
+            .add_default_server(
+                "explorerzydxu5ecjrkwceayqybizmpjjznk5izmitf2modhcusuqlid.onion".into(),
+                vec![Service::Tcp(143)],
+            )
+            .unwrap();
 
         debug!("{:#?}", discovery);
 
diff --git a/src/electrum/server.rs b/src/electrum/server.rs
index 6129cbbe8..e8aba2708 100644
--- a/src/electrum/server.rs
+++ b/src/electrum/server.rs
@@ -13,6 +13,8 @@ use error_chain::ChainedError;
 use hex::{self, DisplayHex};
 use serde_json::{from_str, Value};
 
+use tracing::instrument;
+
 #[cfg(not(feature = "liquid"))]
 use bitcoin::consensus::encode::serialize_hex;
 #[cfg(feature = "liquid")]
@@ -69,6 +71,7 @@ fn bool_from_value_or(val: Option<&Value>, name: &str, default: bool) -> Result<
 }
 
 // TODO: implement caching and delta updates
+#[instrument(skip_all, name = "electrum::server::get_status_hash")]
 fn get_status_hash(txs: Vec<(Txid, Option<BlockId>)>, query: &Query) -> Option<FullHash> {
     if txs.is_empty() {
         None
@@ -203,6 +206,7 @@ impl Connection {
         Ok(json!(&self.query.mempool().backlog_stats().fee_histogram))
     }
 
+    #[instrument(skip_all, name = "electrum::server::blockchain_block_header")]
     fn blockchain_block_header(&self, params: &[Value]) -> Result<Value> {
         let height = usize_from_value(params.get(0), "height")?;
         let cp_height = usize_from_value_or(params.get(1), "cp_height", 0)?;
@@ -226,6 +230,7 @@ impl Connection {
         }))
     }
 
+    #[instrument(skip_all, name = "electrum::serer::blockchain_block_headers")]
     fn blockchain_block_headers(&self, params: &[Value]) -> Result<Value> {
         let start_height = usize_from_value(params.get(0), "start_height")?;
         let count = MAX_HEADERS.min(usize_from_value(params.get(1), "count")?);
@@ -261,6 +266,7 @@ impl Connection {
         }))
     }
 
+    #[instrument(skip_all, name = "electrum::server::blockchain_estimatefee")]
     fn blockchain_estimatefee(&self, params: &[Value]) -> Result<Value> {
         let conf_target = usize_from_value(params.get(0), "blocks_count")?;
         let fee_rate = self
@@ -271,12 +277,14 @@ impl Connection {
         Ok(json!(fee_rate / 100_000f64))
     }
 
+    #[instrument(skip_all, name = "electrum::server::blockchain_relayfee")]
     fn blockchain_relayfee(&self) -> Result<Value> {
         let relayfee = self.query.get_relayfee()?;
         // convert from sat/b to BTC/kB, as expected by Electrum clients
         Ok(json!(relayfee / 100_000f64))
     }
 
+    #[instrument(skip_all, name = "electrum::server::blockchain_scripthash_subscribe")]
     fn blockchain_scripthash_subscribe(&mut self, params: &[Value]) -> Result<Value> {
         let script_hash = hash_from_value(params.get(0)).chain_err(|| "bad script_hash")?;
 
@@ -291,6 +299,7 @@ impl Connection {
     }
 
     #[cfg(not(feature = "liquid"))]
+    #[instrument(skip_all, name = "electrum::server::blockchain_scripthash_get_balance")]
     fn blockchain_scripthash_get_balance(&self, params: &[Value]) -> Result<Value> {
         let script_hash = hash_from_value(params.get(0)).chain_err(|| "bad script_hash")?;
         let (chain_stats, mempool_stats) = self.query.stats(&script_hash[..]);
@@ -301,6 +310,7 @@ impl Connection {
         }))
     }
 
+    #[instrument(skip_all, name = "electrum::server::blockchain_scripthash_get_history")]
     fn blockchain_scripthash_get_history(&self, params: &[Value]) -> Result<Value> {
         let script_hash = hash_from_value(params.get(0)).chain_err(|| "bad script_hash")?;
         let history_txids = get_history(&self.query, &script_hash[..], self.txs_limit)?;
@@ -319,6 +329,7 @@ impl Connection {
             .collect::<Vec<_>>()))
     }
 
+    #[instrument(skip_all, name = "electrum::server::blockchain_scripthash_listunspent")]
     fn blockchain_scripthash_listunspent(&self, params: &[Value]) -> Result<Value> {
         let script_hash = hash_from_value(params.get(0)).chain_err(|| "bad script_hash")?;
         let utxos = self.query.utxo(&script_hash[..])?;
@@ -347,6 +358,7 @@ impl Connection {
         )))
     }
 
+    #[instrument(skip_all, name = "electrum::server::blockchain_transaction_broadcast")]
     fn blockchain_transaction_broadcast(&self, params: &[Value]) -> Result<Value> {
         let tx = params.get(0).chain_err(|| "missing tx")?;
         let tx = tx.as_str().chain_err(|| "non-string tx")?.to_string();
@@ -357,6 +369,7 @@ impl Connection {
         Ok(json!(txid))
     }
 
+    #[instrument(skip_all, name = "electrum::server::blockchain_transaction_get")]
     fn blockchain_transaction_get(&self, params: &[Value]) -> Result<Value> {
         let tx_hash = Txid::from(hash_from_value(params.get(0)).chain_err(|| "bad tx_hash")?);
         let verbose = match params.get(1) {
@@ -376,6 +389,7 @@ impl Connection {
         Ok(json!(rawtx.to_lower_hex_string()))
     }
 
+    #[instrument(skip_all, name = "electrum::server::blockchain_transaction_get_merkle")]
     fn blockchain_transaction_get_merkle(&self, params: &[Value]) -> Result<Value> {
         let txid = Txid::from(hash_from_value(params.get(0)).chain_err(|| "bad tx_hash")?);
         let height = usize_from_value(params.get(1), "height")?;
@@ -396,6 +410,10 @@ impl Connection {
         }))
     }
 
+    #[instrument(
+        skip_all,
+        name = "electrum::server::blockchain_transaction_id_from_pos"
+    )]
     fn blockchain_transaction_id_from_pos(&self, params: &[Value]) -> Result<Value> {
         let height = usize_from_value(params.get(0), "height")?;
         let tx_pos = usize_from_value(params.get(1), "tx_pos")?;
@@ -413,6 +431,7 @@ impl Connection {
         }))
     }
 
+    #[instrument(skip(self, params, id), name = "electrum::server::handle_command")]
     fn handle_command(&mut self, method: &str, params: &[Value], id: &Value) -> Result<Value> {
         let timer = self
             .stats
@@ -467,6 +486,7 @@ impl Connection {
         })
     }
 
+    #[instrument(skip_all, name = "electrum::server::update_subscriptions")]
     fn update_subscriptions(&mut self) -> Result<Vec<Value>> {
         let timer = self
             .stats
@@ -524,6 +544,7 @@ impl Connection {
         Ok(())
     }
 
+    #[instrument(skip_all, name = "electrum::server::handle_replies")]
     fn handle_replies(&mut self, receiver: Receiver<Message>) -> Result<()> {
         let empty_params = json!([]);
         loop {
@@ -588,6 +609,7 @@ impl Connection {
         }
     }
 
+    #[instrument(skip_all, name = "electrum::server::parse_requests")]
     fn parse_requests(mut reader: BufReader<TcpStream>, tx: &SyncSender<Message>) -> Result<()> {
         loop {
             let mut line = Vec::<u8>::new();
@@ -650,6 +672,7 @@ impl Connection {
     }
 }
 
+#[instrument(skip_all, name = "electrum::server::get_history")]
 fn get_history(
     query: &Query,
     scripthash: &[u8],
diff --git a/src/lib.rs b/src/lib.rs
index 9dbc58153..249f13d15 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -35,3 +35,12 @@ pub mod util;
 
 #[cfg(feature = "liquid")]
 pub mod elements;
+
+#[cfg(not(any(feature = "otlp-tracing", feature = "no-otlp-tracing")))]
+compile_error!("Must enable one of the 'otlp-tracing' or 'no-otlp-tracing' features");
+
+#[cfg(all(feature = "otlp-tracing", feature = "no-otlp-tracing"))]
+compile_error!("Cannot enable both the 'otlp-tracing' and 'no-otlp-tracing' (default) features");
+
+#[cfg(feature = "otlp-tracing")]
+pub mod otlp_trace;
diff --git a/src/new_index/db.rs b/src/new_index/db.rs
index f68da233c..0b67e7a56 100644
--- a/src/new_index/db.rs
+++ b/src/new_index/db.rs
@@ -2,6 +2,8 @@ use rocksdb;
 
 use std::path::Path;
 
+use tracing::instrument;
+
 use crate::config::Config;
 use crate::util::{bincode, Bytes};
 
@@ -106,6 +108,7 @@ impl DB {
         db
     }
 
+    #[instrument(skip(self))]
     pub fn full_compaction(&self) {
         // TODO: make sure this doesn't fail silently
         debug!("starting full compaction on {:?}", self.db);
@@ -113,6 +116,7 @@ impl DB {
         debug!("finished full compaction on {:?}", self.db);
     }
 
+    #[instrument(skip(self))]
     pub fn enable_auto_compaction(&self) {
         let opts = [("disable_auto_compactions", "false")];
         self.db.set_options(&opts).unwrap();
@@ -178,6 +182,7 @@ impl DB {
         self.db.write_opt(batch, &opts).unwrap();
     }
 
+    #[instrument(skip(self))]
     pub fn flush(&self) {
         self.db.flush().unwrap();
     }
@@ -186,6 +191,7 @@ impl DB {
         self.db.put(key, value).unwrap();
     }
 
+    #[instrument(skip(self, key, value))]
     pub fn put_sync(&self, key: &[u8], value: &[u8]) {
         let mut opts = rocksdb::WriteOptions::new();
         opts.set_sync(true);
diff --git a/src/new_index/fetch.rs b/src/new_index/fetch.rs
index 54369b5e5..6c3954781 100644
--- a/src/new_index/fetch.rs
+++ b/src/new_index/fetch.rs
@@ -14,6 +14,8 @@ use std::path::PathBuf;
 use std::sync::mpsc::Receiver;
 use std::thread;
 
+use tracing::instrument;
+
 use crate::chain::{Block, BlockHash};
 use crate::daemon::Daemon;
 use crate::errors::*;
@@ -25,6 +27,7 @@ pub enum FetchFrom {
     BlkFiles,
 }
 
+#[instrument(skip(from, daemon, new_headers))]
 pub fn start_fetcher(
     from: FetchFrom,
     daemon: &Daemon,
@@ -66,6 +69,7 @@ impl<T> Fetcher<T> {
     }
 }
 
+#[instrument(skip_all, name = "fetch::bitcoind_fetcher")]
 fn bitcoind_fetcher(
     daemon: &Daemon,
     new_headers: Vec<HeaderEntry>,
@@ -103,6 +107,7 @@ fn bitcoind_fetcher(
     ))
 }
 
+#[instrument(skip_all, name = "fetch::blkfiles_fetcher")]
 fn blkfiles_fetcher(
     daemon: &Daemon,
     new_headers: Vec<HeaderEntry>,
@@ -149,6 +154,7 @@ fn blkfiles_fetcher(
     ))
 }
 
+#[instrument(skip_all, name = "fetch::blkfiles_reader")]
 fn blkfiles_reader(blk_files: Vec<PathBuf>) -> Fetcher<Vec<u8>> {
     let chan = SyncChannel::new(1);
     let sender = chan.sender();
@@ -168,6 +174,7 @@ fn blkfiles_reader(blk_files: Vec<PathBuf>) -> Fetcher<Vec<u8>> {
     )
 }
 
+#[instrument(skip_all, name = "fetch::blkfiles_parser")]
 fn blkfiles_parser(blobs: Fetcher<Vec<u8>>, magic: u32) -> Fetcher<Vec<SizedBlock>> {
     let chan = SyncChannel::new(1);
     let sender = chan.sender();
@@ -186,6 +193,7 @@ fn blkfiles_parser(blobs: Fetcher<Vec<u8>>, magic: u32) -> Fetcher<Vec<SizedBloc
     )
 }
 
+#[instrument(skip_all, name = "fetch::parse_blocks")]
 fn parse_blocks(blob: Vec<u8>, magic: u32) -> Result<Vec<SizedBlock>> {
     let mut cursor = Cursor::new(&blob);
     let mut slices = vec![];
diff --git a/src/new_index/mempool.rs b/src/new_index/mempool.rs
index 94ba7a41d..da457c82b 100644
--- a/src/new_index/mempool.rs
+++ b/src/new_index/mempool.rs
@@ -11,6 +11,8 @@ use std::iter::FromIterator;
 use std::sync::{Arc, RwLock};
 use std::time::{Duration, Instant};
 
+use tracing::instrument;
+
 use crate::chain::{deserialize, Network, OutPoint, Transaction, TxOut, Txid};
 use crate::config::Config;
 use crate::daemon::Daemon;
@@ -107,6 +109,7 @@ impl Mempool {
         self.txstore.get(txid).map(serialize)
     }
 
+    #[instrument(skip_all, name = "Mempool::lookup_spend")]
     pub fn lookup_spend(&self, outpoint: &OutPoint) -> Option<SpendingInput> {
         self.edges.get(outpoint).map(|(txid, vin)| SpendingInput {
             txid: *txid,
@@ -123,6 +126,7 @@ impl Mempool {
         Some(self.feeinfo.get(txid)?.fee)
     }
 
+    #[instrument(skip_all, name = "Mempool::has_unconfirmed_parents")]
     pub fn has_unconfirmed_parents(&self, txid: &Txid) -> bool {
         let tx = match self.txstore.get(txid) {
             Some(tx) => tx,
@@ -133,6 +137,7 @@ impl Mempool {
             .any(|txin| self.txstore.contains_key(&txin.previous_output.txid))
     }
 
+    #[instrument(skip_all, name = "Mempool::history")]
     pub fn history(&self, scripthash: &[u8], limit: usize) -> Vec<Transaction> {
         let _timer = self.latency.with_label_values(&["history"]).start_timer();
         self.history
@@ -140,6 +145,7 @@ impl Mempool {
             .map_or_else(|| vec![], |entries| self._history(entries, limit))
     }
 
+    #[instrument(skip_all, name = "Mempool::_history")]
     fn _history(&self, entries: &[TxHistoryInfo], limit: usize) -> Vec<Transaction> {
         entries
             .iter()
@@ -151,6 +157,7 @@ impl Mempool {
             .collect()
     }
 
+    #[instrument(skip_all, name = "Mempool::history_txids")]
     pub fn history_txids(&self, scripthash: &[u8], limit: usize) -> Vec<Txid> {
         let _timer = self
             .latency
@@ -167,6 +174,7 @@ impl Mempool {
         }
     }
 
+    #[instrument(skip_all, name = "Mempool::utxo")]
     pub fn utxo(&self, scripthash: &[u8]) -> Vec<Utxo> {
         let _timer = self.latency.with_label_values(&["utxo"]).start_timer();
         let entries = match self.history.get(scripthash) {
@@ -209,6 +217,7 @@ impl Mempool {
             .collect()
     }
 
+    #[instrument(skip_all, name = "Mempool::stats")]
     // @XXX avoid code duplication with ChainQuery::stats()?
     pub fn stats(&self, scripthash: &[u8]) -> ScriptStats {
         let _timer = self.latency.with_label_values(&["stats"]).start_timer();
@@ -258,12 +267,14 @@ impl Mempool {
         stats
     }
 
+    #[instrument(skip_all, name = "Mempool::txids")]
     // Get all txids in the mempool
     pub fn txids(&self) -> Vec<&Txid> {
         let _timer = self.latency.with_label_values(&["txids"]).start_timer();
         self.txstore.keys().collect()
     }
 
+    #[instrument(skip_all, name = "Mempool::recent_txs_overview")]
     // Get an overview of the most recent transactions
     pub fn recent_txs_overview(&self) -> Vec<&TxOverview> {
         // We don't bother ever deleting elements from the recent list.
@@ -272,14 +283,17 @@ impl Mempool {
         self.recent.iter().collect()
     }
 
+    #[instrument(skip_all, name = "Mempool::backlog_stats")]
     pub fn backlog_stats(&self) -> &BacklogStats {
         &self.backlog_stats.0
     }
 
+    #[instrument(skip_all, name = "Mempool::old_txids")]
     pub fn old_txids(&self) -> HashSet<Txid> {
         return HashSet::from_iter(self.txstore.keys().cloned());
     }
 
+    #[instrument(skip_all, name = "Mempool::update_backlog_stats")]
     pub fn update_backlog_stats(&mut self) {
         let _timer = self
             .latency
@@ -288,6 +302,7 @@ impl Mempool {
         self.backlog_stats = (BacklogStats::new(&self.feeinfo), Instant::now());
     }
 
+    #[instrument(skip_all, name = "Mempool::add_by_txid")]
     pub fn add_by_txid(&mut self, daemon: &Daemon, txid: &Txid) {
         if self.txstore.get(txid).is_none() {
             if let Ok(tx) = daemon.getmempooltx(&txid) {
@@ -296,6 +311,7 @@ impl Mempool {
         }
     }
 
+    #[instrument(skip_all, name = "Mempool::add")]
     fn add(&mut self, txs: Vec<Transaction>) {
         self.delta
             .with_label_values(&["add"])
@@ -397,12 +413,14 @@ impl Mempool {
         }
     }
 
+    #[instrument(skip_all, name = "Mempool::lookup_txo")]
     fn lookup_txo(&self, outpoint: &OutPoint) -> Option<TxOut> {
         self.txstore
             .get(&outpoint.txid)
             .and_then(|tx| tx.output.get(outpoint.vout as usize).cloned())
     }
 
+    #[instrument(skip_all, name = "Mempool::lookup_txos")]
     pub fn lookup_txos(&self, outpoints: BTreeSet<OutPoint>) -> Result<HashMap<OutPoint, TxOut>> {
         let _timer = self
             .latency
@@ -410,12 +428,13 @@ impl Mempool {
             .start_timer();
 
         // Get the txos available in the mempool, skipping over (and collecting) missing ones
-        let (mut txos, remain_outpoints): (HashMap<_, _>, _) = outpoints
-            .into_iter()
-            .partition_map(|outpoint| match self.lookup_txo(&outpoint) {
-                Some(txout) => Either::Left((outpoint, txout)),
-                None => Either::Right(outpoint),
-            });
+        let (mut txos, remain_outpoints): (HashMap<_, _>, _) =
+            outpoints
+                .into_iter()
+                .partition_map(|outpoint| match self.lookup_txo(&outpoint) {
+                    Some(txout) => Either::Left((outpoint, txout)),
+                    None => Either::Right(outpoint),
+                });
 
         // Get the remaining txos from the chain (fails if any are missing)
         txos.extend(self.chain.lookup_txos(remain_outpoints)?);
@@ -423,6 +442,7 @@ impl Mempool {
         Ok(txos)
     }
 
+    #[instrument(skip_all, name = "Mempool::get_prevous")]
     fn get_prevouts(&self, txids: &[Txid]) -> BTreeSet<OutPoint> {
         let _timer = self
             .latency
@@ -441,6 +461,7 @@ impl Mempool {
             .collect()
     }
 
+    #[instrument(skip_all, name = "Mempool::remove")]
     fn remove(&mut self, to_remove: HashSet<&Txid>) {
         self.delta
             .with_label_values(&["remove"])
@@ -476,6 +497,7 @@ impl Mempool {
     }
 
     #[cfg(feature = "liquid")]
+    #[instrument(skip_all, name = "Mempool::remove")]
     pub fn asset_history(&self, asset_id: &AssetId, limit: usize) -> Vec<Transaction> {
         let _timer = self
             .latency
@@ -486,8 +508,14 @@ impl Mempool {
             .map_or_else(|| vec![], |entries| self._history(entries, limit))
     }
 
+    #[instrument(skip_all, name = "Mempool::update")]
     pub fn update(mempool: &Arc<RwLock<Mempool>>, daemon: &Daemon) -> Result<()> {
-        let _timer = mempool.read().unwrap().latency.with_label_values(&["update"]).start_timer();
+        let _timer = mempool
+            .read()
+            .unwrap()
+            .latency
+            .with_label_values(&["update"])
+            .start_timer();
 
         // 1. Determine which transactions are no longer in the daemon's mempool and which ones have newly entered it
         let old_txids = mempool.read().unwrap().old_txids();
@@ -545,6 +573,7 @@ impl BacklogStats {
         }
     }
 
+    #[instrument(skip_all, name = "Mempool::new")]
     fn new(feeinfo: &HashMap<Txid, TxFeeInfo>) -> Self {
         let (count, vsize, total_fee) = feeinfo
             .values()
diff --git a/src/new_index/precache.rs b/src/new_index/precache.rs
index 4db40c27d..de78757d9 100644
--- a/src/new_index/precache.rs
+++ b/src/new_index/precache.rs
@@ -13,6 +13,9 @@ use std::io;
 use std::io::prelude::*;
 use std::str::FromStr;
 
+use tracing::instrument;
+
+#[instrument(skip_all, name = "precache::precache")]
 pub fn precache(chain: &ChainQuery, scripthashes: Vec<FullHash>) {
     let total = scripthashes.len();
     info!("Pre-caching stats and utxo set for {} scripthashes", total);
@@ -36,6 +39,7 @@ pub fn precache(chain: &ChainQuery, scripthashes: Vec<FullHash>) {
     });
 }
 
+#[instrument(skip_all, name = "precache::scripthashes_from_file")]
 pub fn scripthashes_from_file(path: String) -> Result<Vec<FullHash>> {
     let reader =
         io::BufReader::new(File::open(path).chain_err(|| "cannot open precache scripthash file")?);
diff --git a/src/new_index/query.rs b/src/new_index/query.rs
index 60d7510ab..e8b1cffe5 100644
--- a/src/new_index/query.rs
+++ b/src/new_index/query.rs
@@ -11,6 +11,8 @@ use crate::errors::*;
 use crate::new_index::{ChainQuery, Mempool, ScriptStats, SpendingInput, Utxo};
 use crate::util::{is_spendable, BlockId, Bytes, TransactionStatus};
 
+use tracing::instrument;
+
 #[cfg(feature = "liquid")]
 use crate::{
     chain::AssetId,
@@ -69,6 +71,7 @@ impl Query {
         self.mempool.read().unwrap()
     }
 
+    #[instrument(skip_all, name = "query::Query::broadcast_raw")]
     pub fn broadcast_raw(&self, txhex: &str) -> Result<Txid> {
         let txid = self.daemon.broadcast_raw(txhex)?;
         self.mempool
@@ -78,6 +81,7 @@ impl Query {
         Ok(txid)
     }
 
+    #[instrument(skip_all, name = "query::Query::utxo")]
     pub fn utxo(&self, scripthash: &[u8]) -> Result<Vec<Utxo>> {
         let mut utxos = self.chain.utxo(scripthash, self.config.utxos_limit)?;
         let mempool = self.mempool();
@@ -86,6 +90,7 @@ impl Query {
         Ok(utxos)
     }
 
+    #[instrument(skip_all, name = "query::Query::history_txids")]
     pub fn history_txids(&self, scripthash: &[u8], limit: usize) -> Vec<(Txid, Option<BlockId>)> {
         let confirmed_txids = self.chain.history_txids(scripthash, limit);
         let confirmed_len = confirmed_txids.len();
@@ -107,17 +112,21 @@ impl Query {
         )
     }
 
+    #[instrument(skip_all, name = "query::Query::lookup_txn")]
     pub fn lookup_txn(&self, txid: &Txid) -> Option<Transaction> {
         self.chain
             .lookup_txn(txid, None)
             .or_else(|| self.mempool().lookup_txn(txid))
     }
+
+    #[instrument(skip_all, name = "query::Query::lookup_raw_txn")]
     pub fn lookup_raw_txn(&self, txid: &Txid) -> Option<Bytes> {
         self.chain
             .lookup_raw_txn(txid, None)
             .or_else(|| self.mempool().lookup_raw_txn(txid))
     }
 
+    #[instrument(skip_all, name = "query::Query::lookup_txos")]
     pub fn lookup_txos(&self, outpoints: BTreeSet<OutPoint>) -> HashMap<OutPoint, TxOut> {
         // the mempool lookup_txos() internally looks up confirmed txos as well
         self.mempool()
@@ -125,12 +134,14 @@ impl Query {
             .expect("failed loading txos")
     }
 
+    #[instrument(skip_all, name = "query::Query::lookup_spend")]
     pub fn lookup_spend(&self, outpoint: &OutPoint) -> Option<SpendingInput> {
         self.chain
             .lookup_spend(outpoint)
             .or_else(|| self.mempool().lookup_spend(outpoint))
     }
 
+    #[instrument(skip_all, name = "query::Query::lookup_tx_spends")]
     pub fn lookup_tx_spends(&self, tx: Transaction) -> Vec<Option<SpendingInput>> {
         let txid = tx.txid();
 
@@ -150,18 +161,22 @@ impl Query {
             .collect()
     }
 
+    #[instrument(skip_all, name = "query::Query::get_tx_status")]
     pub fn get_tx_status(&self, txid: &Txid) -> TransactionStatus {
         TransactionStatus::from(self.chain.tx_confirming_block(txid))
     }
 
+    #[instrument(skip_all, name = "query::Query::get_mempool_tx_fee")]
     pub fn get_mempool_tx_fee(&self, txid: &Txid) -> Option<u64> {
         self.mempool().get_tx_fee(txid)
     }
 
+    #[instrument(skip_all, name = "query::Query::has_unconfirmed_parents")]
     pub fn has_unconfirmed_parents(&self, txid: &Txid) -> bool {
         self.mempool().has_unconfirmed_parents(txid)
     }
 
+    #[instrument(skip_all, name = "query::Query::estimate_fee")]
     pub fn estimate_fee(&self, conf_target: u16) -> Option<f64> {
         if self.config.network_type.is_regtest() {
             return self.get_relayfee().ok();
@@ -181,6 +196,7 @@ impl Query {
             .copied()
     }
 
+    #[instrument(skip_all, name = "query::Query::estimate_fee_map")]
     pub fn estimate_fee_map(&self) -> HashMap<u16, f64> {
         if let (ref cache, Some(cache_time)) = *self.cached_estimates.read().unwrap() {
             if cache_time.elapsed() < Duration::from_secs(FEE_ESTIMATES_TTL) {
@@ -192,6 +208,7 @@ impl Query {
         self.cached_estimates.read().unwrap().0.clone()
     }
 
+    #[instrument(skip_all, name = "query::Query::update_fee_estimates")]
     fn update_fee_estimates(&self) {
         match self.daemon.estimatesmartfee_batch(&CONF_TARGETS) {
             Ok(estimates) => {
@@ -203,6 +220,7 @@ impl Query {
         }
     }
 
+    #[instrument(skip_all, name = "query::Query::get_relayfee")]
     pub fn get_relayfee(&self) -> Result<f64> {
         if let Some(cached) = *self.cached_relayfee.read().unwrap() {
             return Ok(cached);
@@ -233,11 +251,13 @@ impl Query {
     }
 
     #[cfg(feature = "liquid")]
+    #[instrument(skip_all, name = "query::Query::lookup_asset")]
     pub fn lookup_asset(&self, asset_id: &AssetId) -> Result<Option<LiquidAsset>> {
         lookup_asset(&self, self.asset_db.as_ref(), asset_id, None)
     }
 
     #[cfg(feature = "liquid")]
+    #[instrument(skip_all, name = "query::Query::list_registry_assets")]
     pub fn list_registry_assets(
         &self,
         start_index: usize,
diff --git a/src/new_index/schema.rs b/src/new_index/schema.rs
index bbb2e2946..e600db162 100644
--- a/src/new_index/schema.rs
+++ b/src/new_index/schema.rs
@@ -21,6 +21,8 @@ use std::collections::{BTreeSet, HashMap, HashSet};
 use std::path::Path;
 use std::sync::{Arc, RwLock};
 
+use tracing::instrument;
+
 use crate::chain::{
     BlockHash, BlockHeader, Network, OutPoint, Script, Transaction, TxOut, Txid, Value,
 };
@@ -220,6 +222,7 @@ impl Indexer {
         self.duration.with_label_values(&[name]).start_timer()
     }
 
+    #[instrument(skip_all, name = "schema::Indexer::headers_to_add")]
     fn headers_to_add(&self, new_headers: &[HeaderEntry]) -> Vec<HeaderEntry> {
         let added_blockhashes = self.store.added_blockhashes.read().unwrap();
         new_headers
@@ -229,6 +232,7 @@ impl Indexer {
             .collect()
     }
 
+    #[instrument(skip_all, name = "schema::Indexer::headers_to_index")]
     fn headers_to_index(&self, new_headers: &[HeaderEntry]) -> Vec<HeaderEntry> {
         let indexed_blockhashes = self.store.indexed_blockhashes.read().unwrap();
         new_headers
@@ -238,6 +242,7 @@ impl Indexer {
             .collect()
     }
 
+    #[instrument(skip_all, name = "schema::start_auto_compactions")]
     fn start_auto_compactions(&self, db: &DB) {
         let key = b"F".to_vec();
         if db.get(&key).is_none() {
@@ -248,6 +253,7 @@ impl Indexer {
         db.enable_auto_compaction();
     }
 
+    #[instrument(skip_all, name = "schema::get_new_headers")]
     fn get_new_headers(&self, daemon: &Daemon, tip: &BlockHash) -> Result<Vec<HeaderEntry>> {
         let headers = self.store.indexed_headers.read().unwrap();
         let new_headers = daemon.get_new_headers(&headers, &tip)?;
@@ -259,6 +265,7 @@ impl Indexer {
         Ok(result)
     }
 
+    #[instrument(skip_all, name = "schema::update")]
     pub fn update(&mut self, daemon: &Daemon) -> Result<BlockHash> {
         let daemon = daemon.reconnect()?;
         let tip = daemon.getbestblockhash()?;
@@ -306,6 +313,7 @@ impl Indexer {
         Ok(tip)
     }
 
+    #[instrument(skip_all, name = "schema::add")]
     fn add(&self, blocks: &[BlockEntry]) {
         // TODO: skip orphaned blocks?
         let rows = {
@@ -324,6 +332,7 @@ impl Indexer {
             .extend(blocks.iter().map(|b| b.entry.hash()));
     }
 
+    #[instrument(skip_all, name = "schema::index")]
     fn index(&self, blocks: &[BlockEntry]) {
         let previous_txos_map = {
             let _timer = self.start_timer("index_lookup");
@@ -375,9 +384,8 @@ impl ChainQuery {
         self.duration.with_label_values(&[name]).start_timer()
     }
 
+    #[instrument(skip_all, name = "sdchema::Indexer::get_block_txids")]
     pub fn get_block_txids(&self, hash: &BlockHash) -> Option<Vec<Txid>> {
-        let _timer = self.start_timer("get_block_txids");
-
         if self.light_mode {
             // TODO fetch block as binary from REST API instead of as hex
             let mut blockinfo = self.daemon.getblock_raw(hash, 1).ok()?;
@@ -390,6 +398,7 @@ impl ChainQuery {
         }
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::get_block_meta")]
     pub fn get_block_meta(&self, hash: &BlockHash) -> Option<BlockMeta> {
         let _timer = self.start_timer("get_block_meta");
 
@@ -404,6 +413,7 @@ impl ChainQuery {
         }
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::get_block_raw")]
     pub fn get_block_raw(&self, hash: &BlockHash) -> Option<Vec<u8>> {
         let _timer = self.start_timer("get_block_raw");
 
@@ -432,16 +442,19 @@ impl ChainQuery {
         }
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::get_block_header")]
     pub fn get_block_header(&self, hash: &BlockHash) -> Option<BlockHeader> {
         let _timer = self.start_timer("get_block_header");
         Some(self.header_by_hash(hash)?.header().clone())
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::get_mtp")]
     pub fn get_mtp(&self, height: usize) -> u32 {
         let _timer = self.start_timer("get_block_mtp");
         self.store.indexed_headers.read().unwrap().get_mtp(height)
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::get_block_with_meta")]
     pub fn get_block_with_meta(&self, hash: &BlockHash) -> Option<BlockHeaderMeta> {
         let _timer = self.start_timer("get_block_with_meta");
         let header_entry = self.header_by_hash(hash)?;
@@ -452,12 +465,15 @@ impl ChainQuery {
         })
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::history_iter_scan")]
     pub fn history_iter_scan(&self, code: u8, hash: &[u8], start_height: usize) -> ScanIterator {
         self.store.history_db.iter_scan_from(
             &TxHistoryRow::filter(code, &hash[..]),
             &TxHistoryRow::prefix_height(code, &hash[..], start_height as u32),
         )
     }
+
+    #[instrument(skip_all, name = "schema::ChainQuery::history_iter_scan_reverse")]
     fn history_iter_scan_reverse(&self, code: u8, hash: &[u8]) -> ReverseScanIterator {
         self.store.history_db.iter_scan_reverse(
             &TxHistoryRow::filter(code, &hash[..]),
@@ -465,6 +481,7 @@ impl ChainQuery {
         )
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::history")]
     pub fn history(
         &self,
         scripthash: &[u8],
@@ -475,6 +492,7 @@ impl ChainQuery {
         self._history(b'H', scripthash, last_seen_txid, limit)
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::_history")]
     fn _history(
         &self,
         code: u8,
@@ -509,11 +527,13 @@ impl ChainQuery {
             .collect()
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::history_txids")]
     pub fn history_txids(&self, scripthash: &[u8], limit: usize) -> Vec<(Txid, BlockId)> {
         // scripthash lookup
         self._history_txids(b'H', scripthash, limit)
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::_history_txids")]
     fn _history_txids(&self, code: u8, hash: &[u8], limit: usize) -> Vec<(Txid, BlockId)> {
         let _timer = self.start_timer("history_txids");
         self.history_iter_scan(code, hash, 0)
@@ -525,6 +545,7 @@ impl ChainQuery {
     }
 
     // TODO: avoid duplication with stats/stats_delta?
+    #[instrument(skip_all, name = "schema::ChainQuery::utxo")]
     pub fn utxo(&self, scripthash: &[u8], limit: usize) -> Result<Vec<Utxo>> {
         let _timer = self.start_timer("utxo");
 
@@ -585,6 +606,7 @@ impl ChainQuery {
             .collect())
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::utxo_delta")]
     fn utxo_delta(
         &self,
         scripthash: &[u8],
@@ -630,6 +652,7 @@ impl ChainQuery {
         Ok((utxos, lastblock, processed_items))
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::stats")]
     pub fn stats(&self, scripthash: &[u8]) -> ScriptStats {
         let _timer = self.start_timer("stats");
 
@@ -664,6 +687,7 @@ impl ChainQuery {
         newstats
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::stats_delta")]
     fn stats_delta(
         &self,
         scripthash: &[u8],
@@ -731,6 +755,7 @@ impl ChainQuery {
         (stats, lastblock)
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::address_search")]
     pub fn address_search(&self, prefix: &str, limit: usize) -> Vec<String> {
         let _timer_scan = self.start_timer("address_search");
         self.store
@@ -741,6 +766,7 @@ impl ChainQuery {
             .collect()
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::header_by_hash")]
     fn header_by_hash(&self, hash: &BlockHash) -> Option<HeaderEntry> {
         self.store
             .indexed_headers
@@ -750,6 +776,7 @@ impl ChainQuery {
             .cloned()
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::height_by_hash")]
     // Get the height of a blockhash, only if its part of the best chain
     pub fn height_by_hash(&self, hash: &BlockHash) -> Option<usize> {
         self.store
@@ -760,6 +787,7 @@ impl ChainQuery {
             .map(|header| header.height())
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::header_by_height")]
     pub fn header_by_height(&self, height: usize) -> Option<HeaderEntry> {
         self.store
             .indexed_headers
@@ -769,6 +797,7 @@ impl ChainQuery {
             .cloned()
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::hash_by_height")]
     pub fn hash_by_height(&self, height: usize) -> Option<BlockHash> {
         self.store
             .indexed_headers
@@ -778,6 +807,7 @@ impl ChainQuery {
             .map(|entry| *entry.hash())
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::blockid_by_height")]
     pub fn blockid_by_height(&self, height: usize) -> Option<BlockId> {
         self.store
             .indexed_headers
@@ -787,6 +817,7 @@ impl ChainQuery {
             .map(BlockId::from)
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::blockid_by_hash")]
     // returns None for orphaned blocks
     pub fn blockid_by_hash(&self, hash: &BlockHash) -> Option<BlockId> {
         self.store
@@ -797,14 +828,17 @@ impl ChainQuery {
             .map(BlockId::from)
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::bests_height")]
     pub fn best_height(&self) -> usize {
         self.store.indexed_headers.read().unwrap().len() - 1
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::best_hash")]
     pub fn best_hash(&self) -> BlockHash {
         *self.store.indexed_headers.read().unwrap().tip()
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::best_header")]
     pub fn best_header(&self) -> HeaderEntry {
         let headers = self.store.indexed_headers.read().unwrap();
         headers
@@ -815,6 +849,7 @@ impl ChainQuery {
 
     // TODO: can we pass txids as a "generic iterable"?
     // TODO: should also use a custom ThreadPoolBuilder?
+    #[instrument(skip_all, name = "schema::ChainQuery::lookup_txns")]
     pub fn lookup_txns(&self, txids: &[(Txid, BlockId)]) -> Result<Vec<Transaction>> {
         let _timer = self.start_timer("lookup_txns");
         txids
@@ -826,6 +861,7 @@ impl ChainQuery {
             .collect::<Result<Vec<Transaction>>>()
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::lookup_txn")]
     pub fn lookup_txn(&self, txid: &Txid, blockhash: Option<&BlockHash>) -> Option<Transaction> {
         let _timer = self.start_timer("lookup_txn");
         self.lookup_raw_txn(txid, blockhash).map(|rawtx| {
@@ -835,6 +871,7 @@ impl ChainQuery {
         })
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::lookup_raw_txn")]
     pub fn lookup_raw_txn(&self, txid: &Txid, blockhash: Option<&BlockHash>) -> Option<Bytes> {
         let _timer = self.start_timer("lookup_raw_txn");
 
@@ -854,16 +891,19 @@ impl ChainQuery {
         }
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::lookup_txo")]
     pub fn lookup_txo(&self, outpoint: &OutPoint) -> Option<TxOut> {
         let _timer = self.start_timer("lookup_txo");
         lookup_txo(&self.store.txstore_db, outpoint)
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::lookup_txos")]
     pub fn lookup_txos(&self, outpoints: BTreeSet<OutPoint>) -> Result<HashMap<OutPoint, TxOut>> {
         let _timer = self.start_timer("lookup_txos");
         lookup_txos(&self.store.txstore_db, outpoints)
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::lookup_spend")]
     pub fn lookup_spend(&self, outpoint: &OutPoint) -> Option<SpendingInput> {
         let _timer = self.start_timer("lookup_spend");
         self.store
@@ -879,6 +919,8 @@ impl ChainQuery {
                 })
             })
     }
+
+    #[instrument(skip_all, name = "schema::ChainQuery::tx_confirming_blocks")]
     pub fn tx_confirming_block(&self, txid: &Txid) -> Option<BlockId> {
         let _timer = self.start_timer("tx_confirming_block");
         let headers = self.store.indexed_headers.read().unwrap();
@@ -895,6 +937,7 @@ impl ChainQuery {
             .map(BlockId::from)
     }
 
+    #[instrument(skip_all, name = "schema::ChainQuery::get_block_status")]
     pub fn get_block_status(&self, hash: &BlockHash) -> BlockStatus {
         // TODO differentiate orphaned and non-existing blocks? telling them apart requires
         // an additional db read.
@@ -916,6 +959,7 @@ impl ChainQuery {
     }
 
     #[cfg(not(feature = "liquid"))]
+    #[instrument(skip_all, name = "schema::ChainQuery::get_merkleblock_proof")]
     pub fn get_merkleblock_proof(&self, txid: &Txid) -> Option<MerkleBlock> {
         let _timer = self.start_timer("get_merkleblock_proof");
         let blockid = self.tx_confirming_block(txid)?;
@@ -930,6 +974,7 @@ impl ChainQuery {
     }
 
     #[cfg(feature = "liquid")]
+    #[instrument(skip_all, name = "schema::ChainQuery::asset_history")]
     pub fn asset_history(
         &self,
         asset_id: &AssetId,
@@ -940,11 +985,13 @@ impl ChainQuery {
     }
 
     #[cfg(feature = "liquid")]
+    #[instrument(skip_all, name = "schema::ChainQuery::assets_history_txids")]
     pub fn asset_history_txids(&self, asset_id: &AssetId, limit: usize) -> Vec<(Txid, BlockId)> {
         self._history_txids(b'I', &asset_id.into_inner()[..], limit)
     }
 }
 
+#[instrument(skip_all, name = "schema::ChainQuery::load_blockhashes")]
 fn load_blockhashes(db: &DB, prefix: &[u8]) -> HashSet<BlockHash> {
     db.iter_scan(prefix)
         .map(BlockRow::from_row)
@@ -952,6 +999,7 @@ fn load_blockhashes(db: &DB, prefix: &[u8]) -> HashSet<BlockHash> {
         .collect()
 }
 
+#[instrument(skip_all, name = "schema::ChainQuery::load_blockheaders")]
 fn load_blockheaders(db: &DB) -> HashMap<BlockHash, BlockHeader> {
     db.iter_scan(&BlockRow::header_filter())
         .map(BlockRow::from_row)
@@ -963,6 +1011,7 @@ fn load_blockheaders(db: &DB) -> HashMap<BlockHash, BlockHeader> {
         .collect()
 }
 
+#[instrument(skip_all, name = "schema::add_blocks")]
 fn add_blocks(block_entries: &[BlockEntry], iconfig: &IndexerConfig) -> Vec<DBRow> {
     // persist individual transactions:
     //      T{txid} → {rawtx}
@@ -1015,6 +1064,7 @@ fn add_transaction(
     }
 }
 
+#[instrument(skip_all, name = "schema::get_previous_txos")]
 fn get_previous_txos(block_entries: &[BlockEntry]) -> BTreeSet<OutPoint> {
     block_entries
         .iter()
@@ -1028,6 +1078,7 @@ fn get_previous_txos(block_entries: &[BlockEntry]) -> BTreeSet<OutPoint> {
         .collect()
 }
 
+#[instrument(skip_all, name = "schema::lookup_txos")]
 fn lookup_txos(txstore_db: &DB, outpoints: BTreeSet<OutPoint>) -> Result<HashMap<OutPoint, TxOut>> {
     let keys = outpoints.iter().map(TxOutRow::key).collect::<Vec<_>>();
     txstore_db
@@ -1049,6 +1100,7 @@ fn lookup_txo(txstore_db: &DB, outpoint: &OutPoint) -> Option<TxOut> {
         .map(|val| deserialize(&val).expect("failed to parse TxOut"))
 }
 
+#[instrument(skip_all, name = "schema::index_blocks")]
 fn index_blocks(
     block_entries: &[BlockEntry],
     previous_txos_map: &HashMap<OutPoint, TxOut>,
@@ -1070,6 +1122,7 @@ fn index_blocks(
 }
 
 // TODO: return an iterator?
+#[instrument(skip_all, name = "schema::index_transaction")]
 fn index_transaction(
     tx: &Transaction,
     confirmed_height: u32,
@@ -1144,6 +1197,7 @@ fn index_transaction(
     );
 }
 
+#[instrument(skip_all, name = "schema::addr_search_row")]
 fn addr_search_row(spk: &Script, network: Network) -> Option<DBRow> {
     spk.to_address_str(network).map(|address| DBRow {
         key: [b"a", address.as_bytes()].concat(),
@@ -1598,6 +1652,7 @@ impl UtxoCacheRow {
     }
 }
 
+#[instrument(skip_all, name = "schema::make_utxo_cache")]
 // keep utxo cache with just the block height (the hash/timestamp are read later from the headers to reconstruct BlockId)
 // and use a (txid,vout) tuple instead of OutPoints (they don't play nicely with bincode serialization)
 fn make_utxo_cache(utxos: &UtxoMap) -> CachedUtxoMap {
@@ -1612,6 +1667,7 @@ fn make_utxo_cache(utxos: &UtxoMap) -> CachedUtxoMap {
         .collect()
 }
 
+#[instrument(skip_all, name = "schema::from_utxo_cache")]
 fn from_utxo_cache(utxos_cache: CachedUtxoMap, chain: &ChainQuery) -> UtxoMap {
     utxos_cache
         .into_iter()
diff --git a/src/otlp_trace.rs b/src/otlp_trace.rs
new file mode 100644
index 000000000..834d56737
--- /dev/null
+++ b/src/otlp_trace.rs
@@ -0,0 +1,85 @@
+use opentelemetry::{
+    runtime,
+    sdk::{
+        trace::{BatchConfig, RandomIdGenerator, Sampler, Tracer},
+        Resource,
+    },
+    KeyValue,
+};
+use opentelemetry_otlp::{ExportConfig, Protocol, WithExportConfig};
+use opentelemetry_semantic_conventions::{
+    resource::{SERVICE_NAME, SERVICE_VERSION},
+    SCHEMA_URL,
+};
+use std::env::var;
+use std::time::Duration;
+use tracing_opentelemetry::OpenTelemetryLayer;
+use tracing_subscriber::{layer::SubscriberExt, util::SubscriberInitExt, EnvFilter};
+
+fn init_tracer(resource: Resource, endpoint: &str) -> Tracer {
+    let export_config = ExportConfig {
+        endpoint: endpoint.to_string(),
+        timeout: Duration::from_secs(3),
+        protocol: Protocol::Grpc,
+    };
+
+    opentelemetry_otlp::new_pipeline()
+        .tracing()
+        .with_trace_config(
+            opentelemetry::sdk::trace::Config::default()
+                .with_sampler(Sampler::ParentBased(Box::new(Sampler::TraceIdRatioBased(
+                    1.0,
+                ))))
+                .with_id_generator(RandomIdGenerator::default())
+                .with_resource(resource),
+        )
+        .with_batch_config(BatchConfig::default())
+        .with_exporter(
+            opentelemetry_otlp::new_exporter()
+                .tonic()
+                .with_endpoint(endpoint)
+                .with_export_config(export_config),
+        )
+        .install_batch(runtime::Tokio)
+        .unwrap()
+}
+
+fn init_tracing_subscriber(service_name: &str) -> OtelGuard {
+    let resource = Resource::from_schema_url(
+        [
+            KeyValue::new(SERVICE_NAME, service_name.to_owned()),
+            KeyValue::new(SERVICE_VERSION, "0.4.1"),
+        ],
+        SCHEMA_URL,
+    );
+
+    let env_filter = EnvFilter::from_default_env();
+
+    let reg = tracing_subscriber::registry().with(env_filter).with(
+        tracing_subscriber::fmt::layer()
+            .with_thread_ids(true)
+            .with_ansi(false)
+            .compact(),
+    );
+    let _ = if let Ok(endpoint) = var("OTLP_ENDPOINT") {
+        reg.with(OpenTelemetryLayer::new(init_tracer(resource, &endpoint)))
+            .try_init()
+    } else {
+        reg.try_init()
+    };
+
+    log::debug!("Initialized tracing");
+
+    OtelGuard {}
+}
+
+pub fn init_tracing(service_name: &str) -> OtelGuard {
+    init_tracing_subscriber(service_name)
+}
+
+pub struct OtelGuard {}
+impl Drop for OtelGuard {
+    fn drop(&mut self) {
+        opentelemetry::global::shutdown_tracer_provider();
+    }
+}
diff --git a/src/rest.rs b/src/rest.rs
index 43eab5c60..928d90f74 100644
--- a/src/rest.rs
+++ b/src/rest.rs
@@ -24,6 +24,8 @@ use tokio::sync::oneshot;
 use std::fs;
 use std::str::FromStr;
 
+use tracing::instrument;
+
 #[cfg(feature = "liquid")]
 use {
     crate::elements::{ebcompact::*, peg::PegoutValue, AssetSorting, IssuanceValue},
@@ -579,6 +581,7 @@ impl Handle {
     }
 }
 
+#[instrument(skip_all, name = "rest::handle_request")]
 fn handle_request(
     method: Method,
     uri: hyper::Uri,
@@ -1154,6 +1157,7 @@ fn json_response<T: Serialize>(value: T, ttl: u32) -> Result<Response<Body>, Htt
         .unwrap())
 }
 
+#[instrument(skip_all, name = "rest::blocks")]
 fn blocks(query: &Query, start_height: Option<usize>) -> Result<Response<Body>, HttpError> {
     let mut values = Vec::new();
     let mut current_hash = match start_height {
diff --git a/src/util/block.rs b/src/util/block.rs
index 18dc91c27..8173f7ed1 100644
--- a/src/util/block.rs
+++ b/src/util/block.rs
@@ -9,6 +9,8 @@ use std::slice;
 use time::format_description::well_known::Rfc3339;
 use time::OffsetDateTime as DateTime;
 
+use tracing::instrument;
+
 const MTP_SPAN: usize = 11;
 
 lazy_static! {
@@ -84,6 +86,7 @@ impl HeaderList {
         }
     }
 
+    #[instrument(skip_all, name = "block::new")]
     pub fn new(
         mut headers_map: HashMap<BlockHash, BlockHeader>,
         tip_hash: BlockHash,
@@ -121,6 +124,7 @@ impl HeaderList {
         headers
     }
 
+    #[instrument(skip_all, name = "block::HeaderList::order")]
     pub fn order(&self, new_headers: Vec<BlockHeader>) -> Vec<HeaderEntry> {
         // header[i] -> header[i-1] (i.e. header.last() is the tip)
         struct HashedHeader {
@@ -160,6 +164,7 @@ impl HeaderList {
             .collect()
     }
 
+    #[instrument(skip_all, name = "block::HeaderList::apply")]
     pub fn apply(&mut self, new_headers: Vec<HeaderEntry>) {
         // new_headers[i] -> new_headers[i - 1] (i.e. new_headers.last() is the tip)
         for i in 1..new_headers.len() {
@@ -197,6 +202,7 @@ impl HeaderList {
         }
     }
 
+    #[instrument(skip_all, name = "block::HeaderList::header_by_blockhash")]
     pub fn header_by_blockhash(&self, blockhash: &BlockHash) -> Option<&HeaderEntry> {
         let height = self.heights.get(blockhash)?;
         let header = self.headers.get(*height)?;
@@ -207,6 +213,7 @@ impl HeaderList {
         }
     }
 
+    #[instrument(skip_all, name = "block::HeaderList::header_by_height")]
     pub fn header_by_height(&self, height: usize) -> Option<&HeaderEntry> {
         self.headers.get(height).map(|entry| {
             assert_eq!(entry.height(), height);
diff --git a/src/util/electrum_merkle.rs b/src/util/electrum_merkle.rs
index 954782a7d..ef4a0e936 100644
--- a/src/util/electrum_merkle.rs
+++ b/src/util/electrum_merkle.rs
@@ -3,6 +3,9 @@ use crate::errors::*;
 use crate::new_index::ChainQuery;
 use bitcoin::hashes::{sha256d::Hash as Sha256dHash, Hash};
 
+use tracing::instrument;
+
+#[instrument(skip_all, name = "electrum_merkle::get_tx_merkleproof")]
 pub fn get_tx_merkle_proof(
     chain: &ChainQuery,
     tx_hash: &Txid,
@@ -21,6 +24,7 @@ pub fn get_tx_merkle_proof(
     Ok((branch, pos))
 }
 
+#[instrument(skip_all, name = "electrum_merkle::get_header_merkle_proof")]
 pub fn get_header_merkle_proof(
     chain: &ChainQuery,
     height: usize,
@@ -49,7 +53,7 @@ pub fn get_header_merkle_proof(
     let header_hashes = header_hashes.into_iter().map(Sha256dHash::from).collect();
     Ok(create_merkle_branch_and_root(header_hashes, height))
 }
-
+#[instrument(skip_all, name = "electrum_merkle::get_id_from_pos")]
 pub fn get_id_from_pos(
     chain: &ChainQuery,
     height: usize,
diff --git a/src/util/fees.rs b/src/util/fees.rs
index 9cbe6c1d7..5827dd751 100644
--- a/src/util/fees.rs
+++ b/src/util/fees.rs
@@ -1,6 +1,8 @@
 use crate::chain::{Network, Transaction, TxOut};
 use std::collections::HashMap;
 
+use tracing::instrument;
+
 const VSIZE_BIN_WIDTH: u64 = 50_000; // in vbytes
 
 pub struct TxFeeInfo {
@@ -46,6 +48,7 @@ pub fn get_tx_fee(tx: &Transaction, _prevouts: &HashMap<u32, &TxOut>, network: N
     tx.fee_in(*network.native_asset())
 }
 
+#[instrument(skip_all, name = "fees::make_fee_histogram")]
 pub fn make_fee_histogram(mut entries: Vec<&TxFeeInfo>) -> Vec<(f64, u64)> {
     entries.sort_unstable_by(|e1, e2| e1.fee_per_vbyte.partial_cmp(&e2.fee_per_vbyte).unwrap());