diff --git a/CHANGELOG.md b/CHANGELOG.md
index b689e7e3889f..5ddffa82c98e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,8 @@
 
 ## Unreleased
 
+## Version 2.7.0 (2024-08-16)
+
 ### 📈 Enhancements
 
 - Add span baggage processor
diff --git a/docs/apidiffs/current_vs_latest/opentelemetry-instrumentation-annotations.txt b/docs/apidiffs/current_vs_latest/opentelemetry-instrumentation-annotations.txt
index 9711244d9a5a..840a9127a57d 100644
--- a/docs/apidiffs/current_vs_latest/opentelemetry-instrumentation-annotations.txt
+++ b/docs/apidiffs/current_vs_latest/opentelemetry-instrumentation-annotations.txt
@@ -1,2 +1,2 @@
-Comparing source compatibility of opentelemetry-instrumentation-annotations-2.7.0-SNAPSHOT.jar against opentelemetry-instrumentation-annotations-2.6.0.jar
+Comparing source compatibility of opentelemetry-instrumentation-annotations-2.8.0-SNAPSHOT.jar against opentelemetry-instrumentation-annotations-2.6.0.jar
 No changes.
\ No newline at end of file
diff --git a/docs/apidiffs/current_vs_latest/opentelemetry-instrumentation-api.txt b/docs/apidiffs/current_vs_latest/opentelemetry-instrumentation-api.txt
index e6f29db1607f..eb753a75913f 100644
--- a/docs/apidiffs/current_vs_latest/opentelemetry-instrumentation-api.txt
+++ b/docs/apidiffs/current_vs_latest/opentelemetry-instrumentation-api.txt
@@ -1,2 +1,2 @@
-Comparing source compatibility of opentelemetry-instrumentation-api-2.7.0-SNAPSHOT.jar against opentelemetry-instrumentation-api-2.6.0.jar
+Comparing source compatibility of opentelemetry-instrumentation-api-2.8.0-SNAPSHOT.jar against opentelemetry-instrumentation-api-2.6.0.jar
 No changes.
\ No newline at end of file
diff --git a/docs/apidiffs/current_vs_latest/opentelemetry-spring-boot-autoconfigure.txt b/docs/apidiffs/current_vs_latest/opentelemetry-spring-boot-autoconfigure.txt
index f0024ddc916a..8fa2b5543d4d 100644
--- a/docs/apidiffs/current_vs_latest/opentelemetry-spring-boot-autoconfigure.txt
+++ b/docs/apidiffs/current_vs_latest/opentelemetry-spring-boot-autoconfigure.txt
@@ -1,2 +1,2 @@
-Comparing source compatibility of opentelemetry-spring-boot-autoconfigure-2.7.0-SNAPSHOT.jar against opentelemetry-spring-boot-autoconfigure-2.6.0.jar
+Comparing source compatibility of opentelemetry-spring-boot-autoconfigure-2.8.0-SNAPSHOT.jar against opentelemetry-spring-boot-autoconfigure-2.6.0.jar
 No changes.
\ No newline at end of file
diff --git a/docs/apidiffs/current_vs_latest/opentelemetry-spring-boot-starter.txt b/docs/apidiffs/current_vs_latest/opentelemetry-spring-boot-starter.txt
index 32590bb0c2c9..c490ff64bfb0 100644
--- a/docs/apidiffs/current_vs_latest/opentelemetry-spring-boot-starter.txt
+++ b/docs/apidiffs/current_vs_latest/opentelemetry-spring-boot-starter.txt
@@ -1,2 +1,2 @@
-Comparing source compatibility of opentelemetry-spring-boot-starter-2.7.0-SNAPSHOT.jar against opentelemetry-spring-boot-starter-2.6.0.jar
+Comparing source compatibility of opentelemetry-spring-boot-starter-2.8.0-SNAPSHOT.jar against opentelemetry-spring-boot-starter-2.6.0.jar
 No changes.
\ No newline at end of file
diff --git a/examples/distro/build.gradle b/examples/distro/build.gradle
index 0c1928354124..93641dd7ba6c 100644
--- a/examples/distro/build.gradle
+++ b/examples/distro/build.gradle
@@ -14,7 +14,7 @@ buildscript {
   dependencies {
     classpath "com.diffplug.spotless:spotless-plugin-gradle:6.25.0"
     classpath "com.gradleup.shadow:shadow-gradle-plugin:8.3.0"
-    classpath "io.opentelemetry.instrumentation:gradle-plugins:2.7.0-alpha-SNAPSHOT"
+    classpath "io.opentelemetry.instrumentation:gradle-plugins:2.8.0-alpha-SNAPSHOT"
   }
 }
 
@@ -30,8 +30,8 @@ subprojects {
       opentelemetrySdk           : "1.41.0",
 
       // these lines are managed by .github/scripts/update-version.sh
-      opentelemetryJavaagent     : "2.7.0-SNAPSHOT",
-      opentelemetryJavaagentAlpha: "2.7.0-alpha-SNAPSHOT",
+      opentelemetryJavaagent     : "2.8.0-SNAPSHOT",
+      opentelemetryJavaagentAlpha: "2.8.0-alpha-SNAPSHOT",
 
       autoservice                : "1.1.1",
       junit                      : "5.11.0"
diff --git a/examples/extension/build.gradle b/examples/extension/build.gradle
index 33081e3e6566..99849486c693 100644
--- a/examples/extension/build.gradle
+++ b/examples/extension/build.gradle
@@ -13,8 +13,8 @@ plugins {
   id "com.gradleup.shadow" version "8.3.0"
   id "com.diffplug.spotless" version "6.25.0"
 
-  id "io.opentelemetry.instrumentation.muzzle-generation" version "2.7.0-alpha-SNAPSHOT"
-  id "io.opentelemetry.instrumentation.muzzle-check" version "2.7.0-alpha-SNAPSHOT"
+  id "io.opentelemetry.instrumentation.muzzle-generation" version "2.8.0-alpha-SNAPSHOT"
+  id "io.opentelemetry.instrumentation.muzzle-check" version "2.8.0-alpha-SNAPSHOT"
 }
 
 group 'io.opentelemetry.example'
@@ -26,8 +26,8 @@ ext {
     opentelemetrySdk           : "1.41.0",
 
     // these lines are managed by .github/scripts/update-version.sh
-    opentelemetryJavaagent     : "2.7.0-SNAPSHOT",
-    opentelemetryJavaagentAlpha: "2.7.0-alpha-SNAPSHOT",
+    opentelemetryJavaagent     : "2.8.0-SNAPSHOT",
+    opentelemetryJavaagentAlpha: "2.8.0-alpha-SNAPSHOT",
 
     junit                      : "5.11.0"
   ]
diff --git a/version.gradle.kts b/version.gradle.kts
index 50f3cd2a28d4..62a705c21c34 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,5 +1,5 @@
-val stableVersion = "2.7.0-SNAPSHOT"
-val alphaVersion = "2.7.0-alpha-SNAPSHOT"
+val stableVersion = "2.8.0-SNAPSHOT"
+val alphaVersion = "2.8.0-alpha-SNAPSHOT"
 
 allprojects {
   if (findProperty("otel.stable") != "true") {