diff --git a/lib/cinder b/lib/cinder
index f8682d5a71..dad17980bc 100644
--- a/lib/cinder
+++ b/lib/cinder
@@ -414,7 +414,9 @@ function configure_cinder {
     if [[ ! -z "$CINDER_COORDINATION_URL" ]]; then
         iniset $CINDER_CONF coordination backend_url "$CINDER_COORDINATION_URL"
     elif is_service_enabled etcd3; then
-        iniset $CINDER_CONF coordination backend_url "etcd3+http://${SERVICE_HOST}:$ETCD_PORT"
+        # NOTE(jan.gutter): api_version can revert to default once tooz is
+        # updated with the etcd v3.4 defaults
+        iniset $CINDER_CONF coordination backend_url "etcd3+http://${SERVICE_HOST}:$ETCD_PORT?api_version=v3"
     fi
 
     if [[ "$CINDER_ENFORCE_SCOPE" == True || "$ENFORCE_SCOPE" == True ]] ; then
diff --git a/stackrc b/stackrc
index 0d1880cec9..2d25e379fd 100644
--- a/stackrc
+++ b/stackrc
@@ -728,11 +728,11 @@ fi
 EXTRA_CACHE_URLS=""
 
 # etcd3 defaults
-ETCD_VERSION=${ETCD_VERSION:-v3.3.12}
-ETCD_SHA256_AMD64=${ETCD_SHA256_AMD64:-"dc5d82df095dae0a2970e4d870b6929590689dd707ae3d33e7b86da0f7f211b6"}
-ETCD_SHA256_ARM64=${ETCD_SHA256_ARM64:-"170b848ac1a071fe7d495d404a868a2c0090750b2944f8a260ef1c6125b2b4f4"}
-ETCD_SHA256_PPC64=${ETCD_SHA256_PPC64:-"77f807b1b51abbf51e020bb05bdb8ce088cb58260fcd22749ea32eee710463d3"}
-# etcd v3.2.x doesn't have anything for s390x
+ETCD_VERSION=${ETCD_VERSION:-v3.4.27}
+ETCD_SHA256_AMD64=${ETCD_SHA256_AMD64:-"a32d21e006252dbc3405b0645ba8468021ed41376974b573285927bf39b39eb9"}
+ETCD_SHA256_ARM64=${ETCD_SHA256_ARM64:-"ed7e257c225b9b9545fac22246b97f4074a4b5109676e92dbaebfb9315b69cc0"}
+ETCD_SHA256_PPC64=${ETCD_SHA256_PPC64:-"eb8825e0bc2cbaf9e55947f5ee373ebc9ca43b6a2ea5ced3b992c81855fff37e"}
+# etcd v3.2.x and later doesn't have anything for s390x
 ETCD_SHA256_S390X=${ETCD_SHA256_S390X:-""}
 # Make sure etcd3 downloads the correct architecture
 if is_arch "x86_64"; then