diff --git a/api/CHANGELOG.md b/api/CHANGELOG.md
index 3fca19e874..b8791254d6 100644
--- a/api/CHANGELOG.md
+++ b/api/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Release History: opentelemetry-api
 
+### v1.2.2 / 2023-08-15
+
+* FIXED: Patch the issue for frozen string on ruby < 3.0 with string interpolation
+* FIXED: Performance regression in_span
+* FIXED: In_span performance
+
 ### v1.2.1 / 2023-07-29
 
 * DOCS: Describe Tracer#in_span arguments
diff --git a/api/lib/opentelemetry/version.rb b/api/lib/opentelemetry/version.rb
index cb629c1dc5..b89d5a679a 100644
--- a/api/lib/opentelemetry/version.rb
+++ b/api/lib/opentelemetry/version.rb
@@ -6,5 +6,5 @@
 
 module OpenTelemetry
   ## Current OpenTelemetry version
-  VERSION = '1.2.1'
+  VERSION = '1.2.2'
 end