diff --git a/package-lock.json b/package-lock.json
index cf18205ae6..0259c47b73 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -99,6 +99,7 @@
         "got-v11": "npm:got@^11.8.6",
         "graphql": "^16.9.0",
         "graphql-subscriptions": "^3.0.0",
+        "graphql-subscriptions-v2": "npm:graphql-subscriptions@^2.0.0",
         "graphql-tag": "^2.12.6",
         "graphql-ws": "^5.16.0",
         "husky": "^7.0.4",
@@ -40751,6 +40752,19 @@
         "graphql": "^15.7.2 || ^16.0.0"
       }
     },
+    "node_modules/graphql-subscriptions-v2": {
+      "name": "graphql-subscriptions",
+      "version": "2.0.0",
+      "resolved": "https://registry.npmjs.org/graphql-subscriptions/-/graphql-subscriptions-2.0.0.tgz",
+      "integrity": "sha512-s6k2b8mmt9gF9pEfkxsaO1lTxaySfKoEJzEfmwguBbQ//Oq23hIXCfR1hm4kdh5hnR20RdwB+s3BCb+0duHSZA==",
+      "dev": true,
+      "dependencies": {
+        "iterall": "^1.3.0"
+      },
+      "peerDependencies": {
+        "graphql": "^15.7.2 || ^16.0.0"
+      }
+    },
     "node_modules/graphql-tag": {
       "version": "2.12.6",
       "resolved": "https://registry.npmjs.org/graphql-tag/-/graphql-tag-2.12.6.tgz",
@@ -42538,6 +42552,12 @@
         "node": ">=8"
       }
     },
+    "node_modules/iterall": {
+      "version": "1.3.0",
+      "resolved": "https://registry.npmjs.org/iterall/-/iterall-1.3.0.tgz",
+      "integrity": "sha512-QZ9qOMdF+QLHxy1QIpUHUU1D5pS2CG2P69LF6L6CPjPYA/XMOmKV3PZpawHoAjHNyB0swdVTRxdYT4tbBbxqwg==",
+      "dev": true
+    },
     "node_modules/iterator.prototype": {
       "version": "1.1.2",
       "resolved": "https://registry.npmjs.org/iterator.prototype/-/iterator.prototype-1.1.2.tgz",
diff --git a/package.json b/package.json
index 3a014b4b2e..daf9cdc156 100644
--- a/package.json
+++ b/package.json
@@ -160,6 +160,7 @@
     "got": "^14.4.4",
     "got-v11": "npm:got@^11.8.6",
     "graphql": "^16.9.0",
+    "graphql-subscriptions-v2": "npm:graphql-subscriptions@^2.0.0",
     "graphql-subscriptions": "^3.0.0",
     "graphql-tag": "^2.12.6",
     "graphql-ws": "^5.16.0",
diff --git a/packages/collector/test/tracing/protocols/graphql/schema.js b/packages/collector/test/tracing/protocols/graphql/schema.js
index 021acb1dba..d8f6028cee 100644
--- a/packages/collector/test/tracing/protocols/graphql/schema.js
+++ b/packages/collector/test/tracing/protocols/graphql/schema.js
@@ -203,10 +203,11 @@ module.exports = function exportSchema() {
           subscribe: (__, { id }) => {
             pinoLogger.warn(`subscribe: ${id}`);
 
-            // for graphql-subscriptions/releases version 3, asyncIterator is replaced with asyncIterableIterator
+            // for graphql-subscriptions, asyncIterator is replaced with asyncIterableIterator in v3
             if (pubsub?.asyncIterableIterator) {
               return pubsub.asyncIterableIterator('characterUpdated');
             } else {
+              // v2 or lesser
               return pubsub.asyncIterator('characterUpdated');
             }
           }
diff --git a/packages/core/src/tracing/instrumentation/control_flow/graphqlSubscriptions.js b/packages/core/src/tracing/instrumentation/control_flow/graphqlSubscriptions.js
index 0182b1951e..53490c071b 100644
--- a/packages/core/src/tracing/instrumentation/control_flow/graphqlSubscriptions.js
+++ b/packages/core/src/tracing/instrumentation/control_flow/graphqlSubscriptions.js
@@ -16,7 +16,10 @@ const CLS_CONTEXT_SYMBOL = Symbol('_instana_cls_context');
 
 exports.init = () => {
   hook.onModuleLoad('graphql-subscriptions', instrumentModule);
-  hook.onFileLoad(/\/graphql-subscriptions\/dist\/pubsub-async-iterator\.js/, instrumentAsyncIterator);
+  hook.onFileLoad(/\/graphql-subscriptions\/dist\/pubsub-async-iterator\.js/, instrumentAsyncIterableIterator);
+
+  hook.onModuleLoad('graphql-subscriptions-v2', instrumentModule);
+  hook.onFileLoad(/\/graphql-subscriptions-v2\/dist\/pubsub-async-iterator\.js/, instrumentAsyncIterator);
 };
 
 function instrumentModule(graphQlSubscriptions) {
@@ -40,6 +43,11 @@ function instrumentAsyncIterator(pubSubAsyncIterator) {
   shimmer.wrap(pubSubAsyncIterator.PubSubAsyncIterator.prototype, 'pullValue', shimPullValue);
 }
 
+function instrumentAsyncIterableIterator(pubSubAsyncIterator) {
+  shimmer.wrap(pubSubAsyncIterator.PubSubAsyncIterableIterator.prototype, 'pushValue', shimPushValue);
+  shimmer.wrap(pubSubAsyncIterator.PubSubAsyncIterableIterator.prototype, 'pullValue', shimPullValue);
+}
+
 function shimPushValue(originalFunction) {
   return function (event) {
     if (isActive && event && typeof event === 'object' && cls.ns.active) {