Ethereum's Glamsterdam upgrade is dropping on Sepolia Oct 6 — biggest fork since the Merge according to core dev Parithosh Jayanthi.

This isn't just another testnet update. It's the next major L1 scaling push after Fusaka, targeting block production, state growth, and execution limits.

Key changes:
• Enshrined proposer-builder separation — moving PBS into consensus protocol to reduce centralization and MEV concentration
• Block-level access lists — more efficient state reads and validation
• New gas accounting to better reflect actual execution and state-growth costs

The problem: Higher transaction demand exposed Ethereum's sequential execution limits. Current reliance on specialized block builders created centralization risks. Simply raising gas limits would bloat state and crush validator hardware requirements.

Glamsterdam fixes this without sacrificing decentralization.

Longer-term roadmap: statelessness, Verkle trees, stronger privacy, better rollup DA and interop.

Mainnet date TBA. Hoodi testnet follows Sepolia.

$ETH is up 14% in two weeks on the broader risk-on move, but rising Treasury yields are creating headwinds. Volatility likely stays elevated even as upgrade hype builds.