diff --git a/CHANGELOG.md b/CHANGELOG.md
index d3d64d8a6..9b6e35ad4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -8,7 +8,12 @@ and this repository adheres to [Semantic Versioning](https://semver.org/spec/v2.
 
 ## Unreleased
 
-tbd
+## v2.1.0-alpha - 2024-02-21
+
+- OpenTelemetry Java SDK has been updated to version 1.35.0.
+- OpenTelemetry Instrumentation for Java has been updated to version 2.1.0.
+
+Note: 2.1.0-alpha release is considered experimental, Splunk recommends using 1.x version of the agent.
 
 ## v1.30.2 - 2024-02-15
 
diff --git a/README.md b/README.md
index e52a3f536..3d71d5633 100644
--- a/README.md
+++ b/README.md
@@ -12,8 +12,8 @@
 
 <p align="center">
   <img alt="Stable" src="https://img.shields.io/badge/status-stable-informational?style=for-the-badge">
-  <a href="https://github.com/open-telemetry/opentelemetry-java-instrumentation/releases/tag/v2.0.0">
-    <img alt="OpenTelemetry Instrumentation for Java Version" src="https://img.shields.io/badge/otel-2.0.0-blueviolet?style=for-the-badge">
+  <a href="https://github.com/open-telemetry/opentelemetry-java-instrumentation/releases/tag/v2.1.0">
+    <img alt="OpenTelemetry Instrumentation for Java Version" src="https://img.shields.io/badge/otel-2.1.0-blueviolet?style=for-the-badge">
   </a>
   <a href="https://github.com/signalfx/gdi-specification/releases/tag/v1.6.0">
     <img alt="Splunk GDI specification" src="https://img.shields.io/badge/GDI-1.6.0-blueviolet?style=for-the-badge">
@@ -73,11 +73,6 @@ see [Migrate from the SignalFx Java Agent](https://quickdraw.splunk.com/redirect
 
 <!-- Comments, spacing, empty and new lines in the section below are intentional, please do not modify them! -->
 <!--DEV_DOCS_WARNING-->
-<!--DEV_DOCS_WARNING_START-->
-The following documentation refers to the in-development version of `splunk-otel-java`. Docs for the latest version ([v2.0.0-alpha](https://github.com/signalfx/splunk-otel-java/releases/latest)) can be found [here](https://github.com/signalfx/splunk-otel-java/blob/v2.0.0-alpha/README.md).
-
----
-<!--DEV_DOCS_WARNING_END-->
 
 ## Requirements
 
@@ -109,11 +104,11 @@ To extend the instrumentation with the OpenTelemetry Instrumentation for Java,
 you have to use a compatible API version.
 
 <!-- IMPORTANT: do not change comments or break those lines below -->
-The Splunk Distribution of OpenTelemetry Java version <!--SPLUNK_VERSION-->2.0.0-alpha<!--SPLUNK_VERSION--> is compatible
+The Splunk Distribution of OpenTelemetry Java version <!--SPLUNK_VERSION-->2.1.0-alpha<!--SPLUNK_VERSION--> is compatible
 with:
 
-* OpenTelemetry API version <!--OTEL_VERSION-->1.34.1<!--OTEL_VERSION-->
-* OpenTelemetry Instrumentation for Java version <!--OTEL_INSTRUMENTATION_VERSION-->2.0.0<!--OTEL_INSTRUMENTATION_VERSION-->
+* OpenTelemetry API version <!--OTEL_VERSION-->1.35.0<!--OTEL_VERSION-->
+* OpenTelemetry Instrumentation for Java version <!--OTEL_INSTRUMENTATION_VERSION-->2.1.0<!--OTEL_INSTRUMENTATION_VERSION-->
 
 ## Snapshot builds
 
diff --git a/buildSrc/build.gradle.kts b/buildSrc/build.gradle.kts
index 3be6f1a54..96f3f1a3d 100644
--- a/buildSrc/build.gradle.kts
+++ b/buildSrc/build.gradle.kts
@@ -41,7 +41,7 @@ dependencies {
   implementation(gradleApi())
 
   implementation("com.diffplug.spotless:spotless-plugin-gradle:6.25.0")
-  implementation("io.opentelemetry.instrumentation:gradle-plugins:2.0.0-alpha")
+  implementation("io.opentelemetry.instrumentation:gradle-plugins:2.1.0-alpha")
 
   // keep these versions in sync with settings.gradle.kts
   implementation("gradle.plugin.com.github.johnrengelman:shadow:8.0.0")
diff --git a/dependencyManagement/build.gradle.kts b/dependencyManagement/build.gradle.kts
index e4ebb36de..3c1a4ce75 100644
--- a/dependencyManagement/build.gradle.kts
+++ b/dependencyManagement/build.gradle.kts
@@ -2,9 +2,9 @@ plugins {
   `java-platform`
 }
 
-val otelVersion = "1.34.1"
+val otelVersion = "1.35.0"
 val otelAlphaVersion = otelVersion.replaceFirst("(-SNAPSHOT)?$".toRegex(), "-alpha$1")
-val otelInstrumentationVersion = "2.0.0"
+val otelInstrumentationVersion = "2.1.0"
 val otelInstrumentationAlphaVersion =  otelInstrumentationVersion.replaceFirst("(-SNAPSHOT)?$".toRegex(), "-alpha$1")
 val otelContribAlphaVersion = "1.32.0-alpha"
 
diff --git a/deployments/cloudfoundry/buildpack/README.md b/deployments/cloudfoundry/buildpack/README.md
index 900135d3e..d5aba98ca 100644
--- a/deployments/cloudfoundry/buildpack/README.md
+++ b/deployments/cloudfoundry/buildpack/README.md
@@ -41,7 +41,7 @@ If you want to use a specific version of the Java agent in your application, you
 environment variable before application deployment, either using `cf set-env` or the `manifest.yml` file:
 
 ```sh
-$ cf set-env SPLUNK_OTEL_JAVA_VERSION 2.0.0-alpha
+$ cf set-env SPLUNK_OTEL_JAVA_VERSION 2.1.0-alpha
 ```
 
 By default, the [latest](https://github.com/signalfx/splunk-otel-java/releases/latest) available agent version is used.
diff --git a/licenses/licenses.md b/licenses/licenses.md
index 8d08ea54c..4522f3848 100644
--- a/licenses/licenses.md
+++ b/licenses/licenses.md
@@ -1,7 +1,7 @@
 
 # splunk-otel-javaagent
 ## Dependency License Report
-_2024-02-16 09:23:35 EET_
+_2024-02-21 16:35:40 EET_
 ## Apache License, Version 2.0
 
 **1** **Group:** `com.squareup.okhttp3` **Name:** `okhttp` **Version:** `4.12.0` 
@@ -13,59 +13,59 @@ _2024-02-16 09:23:35 EET_
 > - **POM Project URL**: [https://github.com/square/okio/](https://github.com/square/okio/)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**3** **Group:** `io.opentelemetry` **Name:** `opentelemetry-api` **Version:** `1.34.1` 
+**3** **Group:** `io.opentelemetry` **Name:** `opentelemetry-api` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**4** **Group:** `io.opentelemetry` **Name:** `opentelemetry-api-events` **Version:** `1.34.1-alpha` 
+**4** **Group:** `io.opentelemetry` **Name:** `opentelemetry-api-events` **Version:** `1.35.0-alpha` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**5** **Group:** `io.opentelemetry` **Name:** `opentelemetry-context` **Version:** `1.34.1` 
+**5** **Group:** `io.opentelemetry` **Name:** `opentelemetry-context` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**6** **Group:** `io.opentelemetry` **Name:** `opentelemetry-exporter-common` **Version:** `1.34.1` 
+**6** **Group:** `io.opentelemetry` **Name:** `opentelemetry-exporter-common` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**7** **Group:** `io.opentelemetry` **Name:** `opentelemetry-exporter-otlp` **Version:** `1.34.1` 
+**7** **Group:** `io.opentelemetry` **Name:** `opentelemetry-exporter-otlp` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**8** **Group:** `io.opentelemetry` **Name:** `opentelemetry-exporter-otlp-common` **Version:** `1.34.1` 
+**8** **Group:** `io.opentelemetry` **Name:** `opentelemetry-exporter-otlp-common` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**9** **Group:** `io.opentelemetry` **Name:** `opentelemetry-exporter-sender-okhttp` **Version:** `1.34.1` 
+**9** **Group:** `io.opentelemetry` **Name:** `opentelemetry-exporter-sender-okhttp` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**10** **Group:** `io.opentelemetry` **Name:** `opentelemetry-extension-incubator` **Version:** `1.34.1-alpha` 
+**10** **Group:** `io.opentelemetry` **Name:** `opentelemetry-extension-incubator` **Version:** `1.35.0-alpha` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**11** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk` **Version:** `1.34.1` 
+**11** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**12** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-common` **Version:** `1.34.1` 
+**12** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-common` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**13** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-extension-autoconfigure-spi` **Version:** `1.34.1` 
+**13** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-extension-autoconfigure-spi` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**14** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-logs` **Version:** `1.34.1` 
+**14** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-logs` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**15** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-metrics` **Version:** `1.34.1` 
+**15** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-metrics` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**16** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-trace` **Version:** `1.34.1` 
+**16** **Group:** `io.opentelemetry` **Name:** `opentelemetry-sdk-trace` **Version:** `1.35.0` 
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java](https://github.com/open-telemetry/opentelemetry-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
@@ -77,7 +77,7 @@ _2024-02-16 09:23:35 EET_
 > - **POM Project URL**: [https://github.com/open-telemetry/opentelemetry-java-contrib](https://github.com/open-telemetry/opentelemetry-java-contrib)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
-**19** **Group:** `io.opentelemetry.semconv` **Name:** `opentelemetry-semconv` **Version:** `1.21.0-alpha` 
+**19** **Group:** `io.opentelemetry.semconv` **Name:** `opentelemetry-semconv` **Version:** `1.23.1-alpha` 
 > - **POM Project URL**: [https://github.com/open-telemetry/semantic-conventions-java](https://github.com/open-telemetry/semantic-conventions-java)
 > - **POM License**: Apache License, Version 2.0 - [https://www.apache.org/licenses/LICENSE-2.0](https://www.apache.org/licenses/LICENSE-2.0)
 
@@ -153,6 +153,6 @@ _2024-02-16 09:23:35 EET_
 
 **33** **Group:** `com.squareup.okio` **Name:** `okio` **Version:** `3.6.0` 
 
-**34** **Group:** `io.opentelemetry.instrumentation` **Name:** `opentelemetry-instrumentation-bom-alpha` **Version:** `2.0.0-alpha` 
+**34** **Group:** `io.opentelemetry.instrumentation` **Name:** `opentelemetry-instrumentation-bom-alpha` **Version:** `2.1.0-alpha` 
 
 
diff --git a/version.gradle.kts b/version.gradle.kts
index ee7b5dc79..a7b3d4262 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,5 +1,5 @@
 // do NOT update that variable manually - it is managed by the pre/post release scripts
-val distroVersion = "2.1.0-alpha-SNAPSHOT"
+val distroVersion = "2.1.0-alpha"
 
 allprojects {
   version = distroVersion