Ethereum’s 2026 ‘Glamsterdam’ Upgrade to Add ePBS and Block-Level ACLs to Curb MEV
Ethereum developers are planning a coordinated 2026 upgrade called “Glamsterdam,” combining an Execution-layer Amsterdam upgrade with a Consensus-layer Gloas change. The package’s headline features are enshrined proposer-builder separation (ePBS, EIP-7732) and block-level access lists (ACLs, EIP-7928). ePBS formalizes separation between builders and proposers so proposers accept sealed, highest-paying blocks without seeing internal transactions, reducing MEV manipulation and limiting centralization from off-chain relays. Block-level ACLs let blocks declare beforehand which accounts and contract storage they will touch, enabling clients to preload state, speed and make execution more predictable, and smooth gas dynamics. Developers aim to maintain throughput and validator incentives while improving finality, lowering latency and bolstering decentralization. The scope is not finalized; additional EIPs may be added and deployment is targeted for 2026. Traders should watch potential effects on MEV-derived revenue, validator economics and short-term network dynamics during rollout, as reduced MEV capture and protocol changes could alter revenue streams, liquid staking behavior and market microstructure.
Neutral
The Glamsterdam proposal is primarily a protocol improvement designed to reduce MEV extractability and strengthen decentralization, not a value-capture mechanism that directly increases ETH demand. In the short term, uncertainty around implementation details and potential shifts in MEV revenue distribution can cause volatility: liquid staking derivatives, validator yields and MEV-focused services may see compressed revenues, prompting rebalancing by arbitrageurs and validator operators. That could create temporary downward pressure or trading opportunities, but not a sustained bearish driver for ETH itself. Over the medium-to-long term, improvements that reduce rent-seeking and centralization risk can be perceived positively for network health and credibility, supporting sustainable demand for ETH as the settlement token and for staking services. Net effect: neutral — short-term volatility and sector rotation likely, long-term fundamentals modestly supportive.