diff --git a/sdk/core/azure-core-tracing-opentelemetry/CHANGELOG.md b/sdk/core/azure-core-tracing-opentelemetry/CHANGELOG.md
index 783145402..86367b48e 100644
--- a/sdk/core/azure-core-tracing-opentelemetry/CHANGELOG.md
+++ b/sdk/core/azure-core-tracing-opentelemetry/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 1.0.0-beta.3 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 1.0.0-beta.2 (2022-06-30)
 
 ### Breaking Changes
diff --git a/sdk/core/azure-core-tracing-opentelemetry/src/private/package_version.hpp b/sdk/core/azure-core-tracing-opentelemetry/src/private/package_version.hpp
index d84fa2345..dae62804f 100644
--- a/sdk/core/azure-core-tracing-opentelemetry/src/private/package_version.hpp
+++ b/sdk/core/azure-core-tracing-opentelemetry/src/private/package_version.hpp
@@ -13,7 +13,7 @@
 #define AZURE_CORE_OPENTELEMETRY_VERSION_MAJOR 1
 #define AZURE_CORE_OPENTELEMETRY_VERSION_MINOR 0
 #define AZURE_CORE_OPENTELEMETRY_VERSION_PATCH 0
-#define AZURE_CORE_OPENTELEMETRY_VERSION_PRERELEASE "beta.2"
+#define AZURE_CORE_OPENTELEMETRY_VERSION_PRERELEASE "beta.3"
 
 #define AZURE_CORE_OPENTELEMETRY_VERSION_ITOA_HELPER(i) #i
 #define AZURE_CORE_OPENTELEMETRY_VERSION_ITOA(i) AZURE_CORE_OPENTELEMETRY_VERSION_ITOA_HELPER(i)