diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index e653c17247e5..c7360a5fbc88 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -845,7 +845,7 @@
   "google-cloud-trace+FILLER": "0.0.0",
   "google-cloud-trace-v1": "1.5.1",
   "google-cloud-trace-v1+FILLER": "0.0.0",
-  "google-cloud-trace-v2": "1.4.1",
+  "google-cloud-trace-v2": "1.5.0",
   "google-cloud-trace-v2+FILLER": "0.0.0",
   "google-cloud-translate": "3.7.4",
   "google-cloud-translate+FILLER": "0.0.0",
diff --git a/google-cloud-trace-v2/CHANGELOG.md b/google-cloud-trace-v2/CHANGELOG.md
index 834324a9cc33..1c7ded18868b 100644
--- a/google-cloud-trace-v2/CHANGELOG.md
+++ b/google-cloud-trace-v2/CHANGELOG.md
@@ -1,5 +1,16 @@
 # Release History
 
+### 1.5.0 (2026-03-31)
+
+#### Features
+
+* Update minimum Ruby to v3.2 and required dependencies for Ruby v4.0 ([#32849](https://github.com/googleapis/google-cloud-ruby/issues/32849)) 
+* Update minimum Ruby to v3.2 and required dependencies for Ruby v4.0 ([#32851](https://github.com/googleapis/google-cloud-ruby/issues/32851)) 
+* Update minimum Ruby to v3.2 and required dependencies for Ruby v4.0 ([#32853](https://github.com/googleapis/google-cloud-ruby/issues/32853)) 
+* Update minimum Ruby to v3.2 and required dependencies for Ruby v4.0 ([#32854](https://github.com/googleapis/google-cloud-ruby/issues/32854)) 
+* Update minimum Ruby to v3.2 and required dependencies for Ruby v4.0 ([#32855](https://github.com/googleapis/google-cloud-ruby/issues/32855)) 
+* Update minimum Ruby to v3.2 and required dependencies for Ruby v4.0 ([#32866](https://github.com/googleapis/google-cloud-ruby/issues/32866)) 
+
 ### 1.4.1 (2025-10-27)
 
 #### Documentation
diff --git a/google-cloud-trace-v2/lib/google/cloud/trace/v2/version.rb b/google-cloud-trace-v2/lib/google/cloud/trace/v2/version.rb
index e560a0d9dc36..a1737b4e4c33 100644
--- a/google-cloud-trace-v2/lib/google/cloud/trace/v2/version.rb
+++ b/google-cloud-trace-v2/lib/google/cloud/trace/v2/version.rb
@@ -21,7 +21,7 @@ module Google
   module Cloud
     module Trace
       module V2
-        VERSION = "1.4.1"
+        VERSION = "1.5.0"
       end
     end
   end
diff --git a/google-cloud-trace-v2/snippets/snippet_metadata_google.devtools.cloudtrace.v2.json b/google-cloud-trace-v2/snippets/snippet_metadata_google.devtools.cloudtrace.v2.json
index f575b856b46a..16d687c36080 100644
--- a/google-cloud-trace-v2/snippets/snippet_metadata_google.devtools.cloudtrace.v2.json
+++ b/google-cloud-trace-v2/snippets/snippet_metadata_google.devtools.cloudtrace.v2.json
@@ -1,7 +1,7 @@
 {
   "client_library": {
     "name": "google-cloud-trace-v2",
-    "version": "1.4.1",
+    "version": "1.5.0",
     "language": "RUBY",
     "apis": [
       {