diff --git a/CHANGELOG.md b/CHANGELOG.md
index ddf82c669..8c5d3f805 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,19 @@
 # Changelog
 
+## [2.32.1](https://github.com/googleapis/java-spanner-jdbc/compare/v2.32.0...v2.32.1) (2025-08-12)
+
+
+### Dependencies
+
+* Update actions/checkout action to v5 ([#2174](https://github.com/googleapis/java-spanner-jdbc/issues/2174)) ([46378ca](https://github.com/googleapis/java-spanner-jdbc/commit/46378caa33c6d78223d65cb0ea11e39784d75a9e))
+* Update dependency com.google.api.grpc:proto-google-cloud-trace-v1 to v2.71.0 ([#2171](https://github.com/googleapis/java-spanner-jdbc/issues/2171)) ([6713d5c](https://github.com/googleapis/java-spanner-jdbc/commit/6713d5c2ef7af8fb68e3a1ada8b1f71f4137a209))
+* Update dependency com.google.cloud:google-cloud-spanner to v6.98.1 ([#2175](https://github.com/googleapis/java-spanner-jdbc/issues/2175)) ([3a4d7ec](https://github.com/googleapis/java-spanner-jdbc/commit/3a4d7ecc907eb7c5da1bd19ce50d86cf677deaa8))
+* Update dependency com.google.cloud:google-cloud-spanner-bom to v6.98.1 ([#2176](https://github.com/googleapis/java-spanner-jdbc/issues/2176)) ([f44a15e](https://github.com/googleapis/java-spanner-jdbc/commit/f44a15e25b3c7b4163ae1075f6932e6e3c5cb5f1))
+* Update dependency com.google.cloud:google-cloud-trace to v2.71.0 ([#2172](https://github.com/googleapis/java-spanner-jdbc/issues/2172)) ([3159c4f](https://github.com/googleapis/java-spanner-jdbc/commit/3159c4f1c6c81db4e1095f0a52c7e7d51e51c6a2))
+* Update dependency com.google.cloud:sdk-platform-java-config to v3.51.0 ([#2168](https://github.com/googleapis/java-spanner-jdbc/issues/2168)) ([ecf1a07](https://github.com/googleapis/java-spanner-jdbc/commit/ecf1a0782defc37af9ccffe7488506e904950809))
+* Update dependency commons-cli:commons-cli to v1.10.0 ([#2167](https://github.com/googleapis/java-spanner-jdbc/issues/2167)) ([1ef709d](https://github.com/googleapis/java-spanner-jdbc/commit/1ef709d22e9131f2e84dc657cd8a2a56d682d29a))
+* Update dependency io.opentelemetry:opentelemetry-bom to v1.53.0 ([#2173](https://github.com/googleapis/java-spanner-jdbc/issues/2173)) ([a61de5c](https://github.com/googleapis/java-spanner-jdbc/commit/a61de5c62d90d16e0ad6207e24424aa57442e349))
+
 ## [2.32.0](https://github.com/googleapis/java-spanner-jdbc/compare/v2.31.3...v2.32.0) (2025-07-31)
 
 
diff --git a/README.md b/README.md
index a77143046..71800b3bc 100644
--- a/README.md
+++ b/README.md
@@ -20,7 +20,7 @@ If you are using Maven, add this to your pom.xml file:
 <dependency>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-spanner-jdbc</artifactId>
-  <version>2.32.0</version>
+  <version>2.32.1</version>
 </dependency>
 ```
 <!--- {x-version-update-end} -->
@@ -30,7 +30,7 @@ If you are using Gradle without BOM, add this to your dependencies
 
 <!--- {x-version-update-start:google-cloud-spanner-jdbc:released} -->
 ```Groovy
-implementation 'com.google.cloud:google-cloud-spanner-jdbc:2.32.0'
+implementation 'com.google.cloud:google-cloud-spanner-jdbc:2.32.1'
 ```
 <!--- {x-version-update-end} -->
 
@@ -38,7 +38,7 @@ If you are using SBT, add this to your dependencies
 
 <!--- {x-version-update-start:google-cloud-spanner-jdbc:released} -->
 ```Scala
-libraryDependencies += "com.google.cloud" % "google-cloud-spanner-jdbc" % "2.32.0"
+libraryDependencies += "com.google.cloud" % "google-cloud-spanner-jdbc" % "2.32.1"
 ```
 <!--- {x-version-update-end} -->
 
diff --git a/pom.xml b/pom.xml
index 4d05e73b1..0544af870 100644
--- a/pom.xml
+++ b/pom.xml
@@ -4,7 +4,7 @@
   xsi:schemaLocation="http://maven.apache.org/POM/4.0.0 http://maven.apache.org/xsd/maven-4.0.0.xsd">
   <modelVersion>4.0.0</modelVersion>
   <artifactId>google-cloud-spanner-jdbc</artifactId>
-  <version>2.32.1-SNAPSHOT</version><!-- {x-version-update:google-cloud-spanner-jdbc:current} -->
+  <version>2.32.1</version><!-- {x-version-update:google-cloud-spanner-jdbc:current} -->
   <packaging>jar</packaging>
   <name>Google Cloud Spanner JDBC</name>
   <url>https://github.com/googleapis/java-spanner-jdbc</url>
diff --git a/samples/snapshot/pom.xml b/samples/snapshot/pom.xml
index 2114b6263..ba9da5c73 100644
--- a/samples/snapshot/pom.xml
+++ b/samples/snapshot/pom.xml
@@ -29,7 +29,7 @@
     <dependency>
       <groupId>com.google.cloud</groupId>
       <artifactId>google-cloud-spanner-jdbc</artifactId>
-      <version>2.32.1-SNAPSHOT</version>
+      <version>2.32.1</version>
     </dependency>
     <!-- {x-version-update-end} -->
 
diff --git a/versions.txt b/versions.txt
index 092510650..0ee7f9ab8 100644
--- a/versions.txt
+++ b/versions.txt
@@ -1,4 +1,4 @@
 # Format:
 # module:released-version:current-version
 
-google-cloud-spanner-jdbc:2.32.0:2.32.1-SNAPSHOT
+google-cloud-spanner-jdbc:2.32.1:2.32.1