diff --git a/metaflow/metaflow_config.py b/metaflow/metaflow_config.py
index b0bb413a02b..f12caf2b710 100644
--- a/metaflow/metaflow_config.py
+++ b/metaflow/metaflow_config.py
@@ -401,6 +401,10 @@
 OTEL_ENDPOINT = from_conf("OTEL_ENDPOINT")
 ZIPKIN_ENDPOINT = from_conf("ZIPKIN_ENDPOINT")
 CONSOLE_TRACE_ENABLED = from_conf("CONSOLE_TRACE_ENABLED", False)
+# internal env used for preventing the tracing module from loading during Conda bootstrapping.
+BOOTSTRAPPING_CONDA_ENVIRONMENT = bool(
+    os.environ.get("BOOTSTRAPPING_CONDA_ENVIRONMENT", False)
+)
 
 # MAX_ATTEMPTS is the maximum number of attempts, including the first
 # task, retries, and the final fallback task and its retries.
diff --git a/metaflow/plugins/conda/conda_environment.py b/metaflow/plugins/conda/conda_environment.py
index cd0cb0a65aa..ef4638ff074 100644
--- a/metaflow/plugins/conda/conda_environment.py
+++ b/metaflow/plugins/conda/conda_environment.py
@@ -76,7 +76,11 @@ def bootstrap_commands(self, step_name, datastore_type):
         if env_id is not None:
             return [
                 "echo 'Bootstrapping environment...'",
-                'python -m metaflow.plugins.conda.batch_bootstrap "%s" %s "%s"'
+                # We have to prevent the tracing module from loading,
+                # as the bootstrapping process uses the internal S3 client which would fail to import tracing
+                # due to the required dependencies being bundled into the conda environment,
+                # which is yet to be initialized at this point.
+                'BOOTSTRAPPING_CONDA_ENVIRONMENT=True python -m metaflow.plugins.conda.batch_bootstrap "%s" %s "%s"'
                 % (self.flow.name, env_id, datastore_type),
                 "echo 'Environment bootstrapped.'",
             ]
diff --git a/metaflow/tracing/__init__.py b/metaflow/tracing/__init__.py
index 72da6682d0f..aadb7793c6c 100644
--- a/metaflow/tracing/__init__.py
+++ b/metaflow/tracing/__init__.py
@@ -2,6 +2,7 @@
     OTEL_ENDPOINT,
     ZIPKIN_ENDPOINT,
     CONSOLE_TRACE_ENABLED,
+    BOOTSTRAPPING_CONDA_ENVIRONMENT,
 )
 from functools import wraps
 import contextlib
@@ -49,7 +50,9 @@ def wrapper_func(*args, **kwargs):
     return wrapper_func
 
 
-if CONSOLE_TRACE_ENABLED or OTEL_ENDPOINT or ZIPKIN_ENDPOINT:
+if not BOOTSTRAPPING_CONDA_ENVIRONMENT and (
+    CONSOLE_TRACE_ENABLED or OTEL_ENDPOINT or ZIPKIN_ENDPOINT
+):
     try:
         from .tracing_modules import *