Computing approximate shortest paths in the dynamic streaming setting is a fundamental challenge that has been intensively studied during the last decade. Currently existing solutions for this problem either build a sparse multiplicative spanner of the input graph and compute shortest paths in the spanner offline, or compute an exact single source BFS tree. Solutions of the first type are doomed to incur a stretch-space tradeoff of 2κ-1 versus n^1+1/κ, for an integer parameter κ. (In fact,

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... ing solutions also incur an extra factor of 1+ϵ in the stretch for weighted graphs, and an additional factor of log^O(1)n in the space.) The only existing solution of the second type uses n^1/2 - O(1/κ) passes over the stream (for space O(n^1+1/κ)), and applies only to unweighted graphs. In this paper we show that (1+ϵ)-approximate single-source shortest paths can be computed in this setting with Õ(n^1+1/κ) space using just constantly many passes in unweighted graphs, and polylogarithmically many passes in weighted graphs (assuming ϵ and κ are constant). Moreover, in fact, the same result applies for multi-source shortest paths, as long as the number of sources is O(n^1/κ). We achieve these results by devising efficient dynamic streaming constructions of (1 + ϵ, β)-spanners and hopsets. We believe that these constructions are of independent interest.