diff --git a/charts/opentelemetry-operator/Chart.yaml b/charts/opentelemetry-operator/Chart.yaml
index 79950b06d..25621d6e1 100644
--- a/charts/opentelemetry-operator/Chart.yaml
+++ b/charts/opentelemetry-operator/Chart.yaml
@@ -1,6 +1,6 @@
 apiVersion: v2
 name: opentelemetry-operator
-version: 0.37.1
+version: 0.38.0
 description: OpenTelemetry Operator Helm chart for Kubernetes
 type: application
 home: https://opentelemetry.io/
@@ -11,4 +11,4 @@ maintainers:
   - name: dmitryax
   - name: TylerHelmuth
 icon: https://raw.githubusercontent.com/cncf/artwork/a718fa97fffec1b9fd14147682e9e3ac0c8817cb/projects/opentelemetry/icon/color/opentelemetry-icon-color.png
-appVersion: 0.83.0
+appVersion: 0.84.0
diff --git a/charts/opentelemetry-operator/crds/crd-opentelemetrycollector.yaml b/charts/opentelemetry-operator/crds/crd-opentelemetrycollector.yaml
index 11a873975..efef24c32 100644
--- a/charts/opentelemetry-operator/crds/crd-opentelemetrycollector.yaml
+++ b/charts/opentelemetry-operator/crds/crd-opentelemetrycollector.yaml
@@ -3687,9 +3687,9 @@ spec:
                     description: Metrics defines the metrics configuration for operands.
                     properties:
                       enableMetrics:
-                        description: EnableMetrics specifies if ServiceMonitors should
-                          be created for the OpenTelemetry Collector. The operator.observability.prometheus
-                          feature gate must be enabled to use this feature.
+                        description: EnableMetrics specifies if ServiceMonitor should
+                          be created for the OpenTelemetry Collector and Prometheus
+                          Exporters. The operator.observability.
                         type: boolean
                     type: object
                 type: object
@@ -3700,9 +3700,9 @@ spec:
                   attached to Collector and Target Allocator pods.
                 type: object
               podSecurityContext:
-                description: PodSecurityContext holds pod-level security attributes
-                  and common container settings. Some fields are also present in container.securityContext.  Field
-                  values of container.
+                description: PodSecurityContext configures the pod security context
+                  for the opentelemetry-collector pod, when running as a deployment,
+                  daemonset, or statefulset.
                 properties:
                   fsGroup:
                     description: "A special supplemental group that applies to all
@@ -3925,8 +3925,8 @@ spec:
                     type: object
                 type: object
               securityContext:
-                description: SecurityContext will be set as the container security
-                  context.
+                description: SecurityContext configures the container security context
+                  for the opentelemetry-collector container.
                 properties:
                   allowPrivilegeEscalation:
                     description: AllowPrivilegeEscalation controls whether a process
diff --git a/charts/opentelemetry-operator/crds/crd-opentelemetryinstrumentation.yaml b/charts/opentelemetry-operator/crds/crd-opentelemetryinstrumentation.yaml
index cc170b110..8708a1830 100644
--- a/charts/opentelemetry-operator/crds/crd-opentelemetryinstrumentation.yaml
+++ b/charts/opentelemetry-operator/crds/crd-opentelemetryinstrumentation.yaml
@@ -326,6 +326,14 @@ spec:
                     description: Apache HTTPD server version. One of 2.4 or 2.2. Default
                       is 2.4
                     type: string
+                  volumeLimitSize:
+                    anyOf:
+                    - type: integer
+                    - type: string
+                    description: VolumeSizeLimit defines size limit for volume used
+                      for auto-instrumentation. The default size is 150Mi.
+                    pattern: ^(\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))(([KMGTPE]i)|[numkMGTPE]|([eE](\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))))?$
+                    x-kubernetes-int-or-string: true
                 type: object
               dotnet:
                 description: DotNet defines configuration for DotNet auto-instrumentation.
@@ -485,6 +493,14 @@ spec:
                           resources required.
                         type: object
                     type: object
+                  volumeLimitSize:
+                    anyOf:
+                    - type: integer
+                    - type: string
+                    description: VolumeSizeLimit defines size limit for volume used
+                      for auto-instrumentation. The default size is 150Mi.
+                    pattern: ^(\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))(([KMGTPE]i)|[numkMGTPE]|([eE](\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))))?$
+                    x-kubernetes-int-or-string: true
                 type: object
               env:
                 description: Env defines common env vars.
@@ -754,6 +770,14 @@ spec:
                           resources required.
                         type: object
                     type: object
+                  volumeLimitSize:
+                    anyOf:
+                    - type: integer
+                    - type: string
+                    description: VolumeSizeLimit defines size limit for volume used
+                      for auto-instrumentation. The default size is 150Mi.
+                    pattern: ^(\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))(([KMGTPE]i)|[numkMGTPE]|([eE](\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))))?$
+                    x-kubernetes-int-or-string: true
                 type: object
               java:
                 description: Java defines configuration for java auto-instrumentation.
@@ -914,6 +938,14 @@ spec:
                           resources required.
                         type: object
                     type: object
+                  volumeLimitSize:
+                    anyOf:
+                    - type: integer
+                    - type: string
+                    description: VolumeSizeLimit defines size limit for volume used
+                      for auto-instrumentation. The default size is 150Mi.
+                    pattern: ^(\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))(([KMGTPE]i)|[numkMGTPE]|([eE](\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))))?$
+                    x-kubernetes-int-or-string: true
                 type: object
               nginx:
                 description: Nginx defines configuration for Nginx auto-instrumentation.
@@ -1186,6 +1218,14 @@ spec:
                           resources required.
                         type: object
                     type: object
+                  volumeLimitSize:
+                    anyOf:
+                    - type: integer
+                    - type: string
+                    description: VolumeSizeLimit defines size limit for volume used
+                      for auto-instrumentation. The default size is 150Mi.
+                    pattern: ^(\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))(([KMGTPE]i)|[numkMGTPE]|([eE](\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))))?$
+                    x-kubernetes-int-or-string: true
                 type: object
               nodejs:
                 description: NodeJS defines configuration for nodejs auto-instrumentation.
@@ -1345,6 +1385,14 @@ spec:
                           resources required.
                         type: object
                     type: object
+                  volumeLimitSize:
+                    anyOf:
+                    - type: integer
+                    - type: string
+                    description: VolumeSizeLimit defines size limit for volume used
+                      for auto-instrumentation. The default size is 150Mi.
+                    pattern: ^(\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))(([KMGTPE]i)|[numkMGTPE]|([eE](\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))))?$
+                    x-kubernetes-int-or-string: true
                 type: object
               propagators:
                 description: Propagators defines inter-process context propagation
@@ -1521,6 +1569,14 @@ spec:
                           resources required.
                         type: object
                     type: object
+                  volumeLimitSize:
+                    anyOf:
+                    - type: integer
+                    - type: string
+                    description: VolumeSizeLimit defines size limit for volume used
+                      for auto-instrumentation. The default size is 150Mi.
+                    pattern: ^(\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))(([KMGTPE]i)|[numkMGTPE]|([eE](\+|-)?(([0-9]+(\.[0-9]*)?)|(\.[0-9]+))))?$
+                    x-kubernetes-int-or-string: true
                 type: object
               resource:
                 description: Resource defines the configuration for the resource attributes,
diff --git a/charts/opentelemetry-operator/examples/default/rendered/admission-webhooks/operator-webhook-with-cert-manager.yaml b/charts/opentelemetry-operator/examples/default/rendered/admission-webhooks/operator-webhook-with-cert-manager.yaml
index 9dcb7c6e3..f0f0e13e4 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/admission-webhooks/operator-webhook-with-cert-manager.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/admission-webhooks/operator-webhook-with-cert-manager.yaml
@@ -6,9 +6,9 @@ metadata:
   annotations:
     cert-manager.io/inject-ca-from: default/example-opentelemetry-operator-serving-cert
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: webhook
@@ -85,9 +85,9 @@ metadata:
   annotations:
     cert-manager.io/inject-ca-from: default/example-opentelemetry-operator-serving-cert
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: webhook
diff --git a/charts/opentelemetry-operator/examples/default/rendered/certmanager.yaml b/charts/opentelemetry-operator/examples/default/rendered/certmanager.yaml
index 6a67c91a6..922faaf5f 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/certmanager.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/certmanager.yaml
@@ -4,9 +4,9 @@ apiVersion: cert-manager.io/v1
 kind: Certificate
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: webhook
@@ -29,9 +29,9 @@ apiVersion: cert-manager.io/v1
 kind: Issuer
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: webhook
diff --git a/charts/opentelemetry-operator/examples/default/rendered/clusterrole.yaml b/charts/opentelemetry-operator/examples/default/rendered/clusterrole.yaml
index 8fd37a052..dd359408a 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/clusterrole.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/clusterrole.yaml
@@ -4,9 +4,9 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRole
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
@@ -214,9 +214,9 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRole
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
@@ -232,9 +232,9 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRole
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
diff --git a/charts/opentelemetry-operator/examples/default/rendered/clusterrolebinding.yaml b/charts/opentelemetry-operator/examples/default/rendered/clusterrolebinding.yaml
index a44636864..f36b51b3c 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/clusterrolebinding.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/clusterrolebinding.yaml
@@ -4,9 +4,9 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRoleBinding
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
@@ -25,9 +25,9 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: ClusterRoleBinding
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
diff --git a/charts/opentelemetry-operator/examples/default/rendered/deployment.yaml b/charts/opentelemetry-operator/examples/default/rendered/deployment.yaml
index 01eb224b0..0cc041c2a 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/deployment.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/deployment.yaml
@@ -4,9 +4,9 @@ apiVersion: apps/v1
 kind: Deployment
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
@@ -33,13 +33,13 @@ spec:
             - --enable-leader-election
             - --health-probe-addr=:8081
             - --webhook-port=9443
-            - --collector-image=otel/opentelemetry-collector-contrib:0.83.0
+            - --collector-image=otel/opentelemetry-collector-contrib:0.84.0
           command:
             - /manager
           env:
             - name: ENABLE_WEBHOOKS
               value: "true"
-          image: "ghcr.io/open-telemetry/opentelemetry-operator/opentelemetry-operator:v0.83.0"
+          image: "ghcr.io/open-telemetry/opentelemetry-operator/opentelemetry-operator:v0.84.0"
           name: manager
           ports:
             - containerPort: 8080
diff --git a/charts/opentelemetry-operator/examples/default/rendered/role.yaml b/charts/opentelemetry-operator/examples/default/rendered/role.yaml
index 408abcd2a..bde6c3ce1 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/role.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/role.yaml
@@ -4,9 +4,9 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: Role
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
diff --git a/charts/opentelemetry-operator/examples/default/rendered/rolebinding.yaml b/charts/opentelemetry-operator/examples/default/rendered/rolebinding.yaml
index 65c3d37c9..d7ab0ad73 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/rolebinding.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/rolebinding.yaml
@@ -4,9 +4,9 @@ apiVersion: rbac.authorization.k8s.io/v1
 kind: RoleBinding
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
diff --git a/charts/opentelemetry-operator/examples/default/rendered/service.yaml b/charts/opentelemetry-operator/examples/default/rendered/service.yaml
index 7a9e25d05..344e08a93 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/service.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/service.yaml
@@ -4,9 +4,9 @@ apiVersion: v1
 kind: Service
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
@@ -31,9 +31,9 @@ apiVersion: v1
 kind: Service
 metadata:
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
diff --git a/charts/opentelemetry-operator/examples/default/rendered/serviceaccount.yaml b/charts/opentelemetry-operator/examples/default/rendered/serviceaccount.yaml
index dde6cf624..ecd90dcc7 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/serviceaccount.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/serviceaccount.yaml
@@ -6,9 +6,9 @@ metadata:
   name: opentelemetry-operator
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
diff --git a/charts/opentelemetry-operator/examples/default/rendered/tests/test-certmanager-connection.yaml b/charts/opentelemetry-operator/examples/default/rendered/tests/test-certmanager-connection.yaml
index d9425a338..8dac467c2 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/tests/test-certmanager-connection.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/tests/test-certmanager-connection.yaml
@@ -6,9 +6,9 @@ metadata:
   name: "example-opentelemetry-operator-cert-manager"
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: webhook
diff --git a/charts/opentelemetry-operator/examples/default/rendered/tests/test-service-connection.yaml b/charts/opentelemetry-operator/examples/default/rendered/tests/test-service-connection.yaml
index b5f862a26..b61f8808d 100644
--- a/charts/opentelemetry-operator/examples/default/rendered/tests/test-service-connection.yaml
+++ b/charts/opentelemetry-operator/examples/default/rendered/tests/test-service-connection.yaml
@@ -6,9 +6,9 @@ metadata:
   name: "example-opentelemetry-operator-metrics"
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
@@ -43,9 +43,9 @@ metadata:
   name: "example-opentelemetry-operator-webhook"
   namespace: default
   labels:
-    helm.sh/chart: opentelemetry-operator-0.37.1
+    helm.sh/chart: opentelemetry-operator-0.38.0
     app.kubernetes.io/name: opentelemetry-operator
-    app.kubernetes.io/version: "0.83.0"
+    app.kubernetes.io/version: "0.84.0"
     app.kubernetes.io/managed-by: Helm
     app.kubernetes.io/instance: example
     app.kubernetes.io/component: controller-manager
diff --git a/charts/opentelemetry-operator/values.yaml b/charts/opentelemetry-operator/values.yaml
index b577c2bd6..776c815af 100644
--- a/charts/opentelemetry-operator/values.yaml
+++ b/charts/opentelemetry-operator/values.yaml
@@ -29,10 +29,10 @@ pdb:
 manager:
   image:
     repository: ghcr.io/open-telemetry/opentelemetry-operator/opentelemetry-operator
-    tag: v0.83.0
+    tag: v0.84.0
   collectorImage:
     repository: otel/opentelemetry-collector-contrib
-    tag: 0.83.0
+    tag: 0.84.0
   targetAllocatorImage:
     repository: ""
     tag: ""