diff --git a/CHANGELOG.md b/CHANGELOG.md
index afc7b58235..2919083c7a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,7 +5,9 @@ All notable changes to this project are documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/).
 This project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## [Unreleased](https://github.com/open-telemetry/opentelemetry-dotnet-instrumentation/compare/v0.3.0-beta.1...HEAD)
+## [Unreleased](https://github.com/open-telemetry/opentelemetry-dotnet-instrumentation/compare/v0.3.1-beta.1...HEAD)
+
+## [0.3.1-beta.1](https://github.com/open-telemetry/opentelemetry-dotnet-instrumentation/releases/tag/v0.3.1-beta.1)
 
 This release is built on top of [OpenTelemetry .NET](https://github.com/open-telemetry/opentelemetry-dotnet):
 
diff --git a/docs/README.md b/docs/README.md
index 8c3d8a229d..cd2865ec5c 100644
--- a/docs/README.md
+++ b/docs/README.md
@@ -9,8 +9,8 @@ to .NET applications without having to modify their source code.
 
 ⚠️ The following documentation refers to the in-development version
 of OpenTelemetry .NET Automatic Instrumentation. Docs for the latest version
-([0.3.0-beta.1](https://github.com/open-telemetry/opentelemetry-dotnet-instrumentation/releases/latest))
-can be found [here](https://github.com/open-telemetry/opentelemetry-dotnet-instrumentation/blob/v0.3.0-beta.1/docs/README.md).
+([0.3.1-beta.1](https://github.com/open-telemetry/opentelemetry-dotnet-instrumentation/releases/latest))
+can be found [here](https://github.com/open-telemetry/opentelemetry-dotnet-instrumentation/blob/v0.3.1-beta.1/docs/README.md).
 
 ---
 
diff --git a/src/OpenTelemetry.AutoInstrumentation.Loader/OpenTelemetry.AutoInstrumentation.Loader.csproj b/src/OpenTelemetry.AutoInstrumentation.Loader/OpenTelemetry.AutoInstrumentation.Loader.csproj
index 520b99eaf7..3f3da928cf 100644
--- a/src/OpenTelemetry.AutoInstrumentation.Loader/OpenTelemetry.AutoInstrumentation.Loader.csproj
+++ b/src/OpenTelemetry.AutoInstrumentation.Loader/OpenTelemetry.AutoInstrumentation.Loader.csproj
@@ -6,7 +6,7 @@
     <OutputPath>..\bin\ProfilerResources\</OutputPath>
 
     <!-- NuGet -->
-    <Version>0.3.0</Version>
+    <Version>0.3.1</Version>
 
     <!-- Hide warnings for EOL .NET Core targets (e.g. netcoreapp2.0) -->
     <CheckEolTargetFramework>false</CheckEolTargetFramework>
diff --git a/src/OpenTelemetry.AutoInstrumentation.Native/CMakeLists.txt b/src/OpenTelemetry.AutoInstrumentation.Native/CMakeLists.txt
index 13f57a9ba8..f429f2ae63 100644
--- a/src/OpenTelemetry.AutoInstrumentation.Native/CMakeLists.txt
+++ b/src/OpenTelemetry.AutoInstrumentation.Native/CMakeLists.txt
@@ -5,7 +5,7 @@ cmake_policy(SET CMP0015 NEW)
 # Project definition
 # ******************************************************
 
-project("OpenTelemetry.AutoInstrumentation.Native" VERSION 0.3.0)
+project("OpenTelemetry.AutoInstrumentation.Native" VERSION 0.3.1)
 
 # ******************************************************
 # Environment detection
diff --git a/src/OpenTelemetry.AutoInstrumentation.Native/Resource.rc b/src/OpenTelemetry.AutoInstrumentation.Native/Resource.rc
index 6d99d3b147..8f65331008 100644
--- a/src/OpenTelemetry.AutoInstrumentation.Native/Resource.rc
+++ b/src/OpenTelemetry.AutoInstrumentation.Native/Resource.rc
@@ -67,12 +67,12 @@ BEGIN
         BEGIN
             VALUE "CompanyName", "The OpenTelemetry Authors"
             VALUE "FileDescription", "OpenTelemetry CLR Profiler"
-            VALUE "FileVersion", "0.3.0.0"
+            VALUE "FileVersion", "0.3.1.0"
             VALUE "InternalName", "OpenTelemetry.AutoInstrumentation.Native.DLL"
             VALUE "LegalCopyright", "Copyright 2021 The OpenTelemetry Authors"
             VALUE "OriginalFilename", "OpenTelemetry.AutoInstrumentation.Native.DLL"
             VALUE "ProductName", "OpenTelemetry .NET AutoInstrumentation"
-            VALUE "ProductVersion", "0.3.0"
+            VALUE "ProductVersion", "0.3.1"
         END
     END
     BLOCK "VarFileInfo"
diff --git a/src/OpenTelemetry.AutoInstrumentation.Native/otel_profiler_constants.h b/src/OpenTelemetry.AutoInstrumentation.Native/otel_profiler_constants.h
index 95985e9abd..143e9cfd47 100644
--- a/src/OpenTelemetry.AutoInstrumentation.Native/otel_profiler_constants.h
+++ b/src/OpenTelemetry.AutoInstrumentation.Native/otel_profiler_constants.h
@@ -79,10 +79,10 @@ const WSTRING opentelemetry_autoinstrumentation_loader_assemblyName = WStr("Open
 const WSTRING managed_profiler_name = WStr("OpenTelemetry.AutoInstrumentation");
 
 const WSTRING managed_profiler_full_assembly_version =
-    WStr("OpenTelemetry.AutoInstrumentation, Version=0.3.0.0, Culture=neutral, PublicKeyToken=null");
+    WStr("OpenTelemetry.AutoInstrumentation, Version=0.3.1.0, Culture=neutral, PublicKeyToken=null");
 
 const WSTRING managed_profiler_full_assembly_version_strong_name =
-    WStr("OpenTelemetry.AutoInstrumentation, Version=0.3.0.0, Culture=neutral, PublicKeyToken=c0db600a13f60b51");
+    WStr("OpenTelemetry.AutoInstrumentation, Version=0.3.1.0, Culture=neutral, PublicKeyToken=c0db600a13f60b51");
 
 const WSTRING nonwindows_nativemethods_type = WStr("OpenTelemetry.AutoInstrumentation.NativeMethods+NonWindows");
 
diff --git a/src/OpenTelemetry.AutoInstrumentation.Native/version.h b/src/OpenTelemetry.AutoInstrumentation.Native/version.h
index f003aec0bf..aa9d775c47 100644
--- a/src/OpenTelemetry.AutoInstrumentation.Native/version.h
+++ b/src/OpenTelemetry.AutoInstrumentation.Native/version.h
@@ -1,3 +1,3 @@
 #pragma once
 
-constexpr auto PROFILER_VERSION = "0.3.0";
+constexpr auto PROFILER_VERSION = "0.3.1";
diff --git a/src/OpenTelemetry.AutoInstrumentation/Constants.cs b/src/OpenTelemetry.AutoInstrumentation/Constants.cs
index 2e9051847e..1f42e54936 100644
--- a/src/OpenTelemetry.AutoInstrumentation/Constants.cs
+++ b/src/OpenTelemetry.AutoInstrumentation/Constants.cs
@@ -21,7 +21,7 @@ internal static class Constants
     public static class Tracer
     {
         public const string Language = "dotnet";
-        public const string Version = "0.3.0";
+        public const string Version = "0.3.1";
     }
 
     public static class ConfigurationValues
diff --git a/src/OpenTelemetry.AutoInstrumentation/OpenTelemetry.AutoInstrumentation.csproj b/src/OpenTelemetry.AutoInstrumentation/OpenTelemetry.AutoInstrumentation.csproj
index fcd686c5e5..32517c8eab 100644
--- a/src/OpenTelemetry.AutoInstrumentation/OpenTelemetry.AutoInstrumentation.csproj
+++ b/src/OpenTelemetry.AutoInstrumentation/OpenTelemetry.AutoInstrumentation.csproj
@@ -3,7 +3,7 @@
   <Import Project="..\CommonExcludedAssets.props" />
 
   <PropertyGroup>
-    <Version>0.3.0</Version>
+    <Version>0.3.1</Version>
   </PropertyGroup>
 
   <ItemGroup>