diff --git a/charts/galoy-deps/Chart.lock b/charts/galoy-deps/Chart.lock
index 4e9f99db17..78d83f1cb6 100644
--- a/charts/galoy-deps/Chart.lock
+++ b/charts/galoy-deps/Chart.lock
@@ -13,6 +13,6 @@ dependencies:
   version: 1.5.2
 - name: opentelemetry-collector
   repository: https://open-telemetry.github.io/opentelemetry-helm-charts
-  version: 0.108.0
-digest: sha256:e2b4306eac185d9ee0827e570187a6b88e07ab4454d75153b84d2298d5379393
-generated: "2024-10-04T19:59:12.231527006Z"
+  version: 0.111.0
+digest: sha256:6acf205f7d0c7cdf08dc816219b83ebcff48e725007106b20fcd5396822039b3
+generated: "2024-12-16T17:20:46.929685452Z"
diff --git a/charts/galoy-deps/Chart.yaml b/charts/galoy-deps/Chart.yaml
index 092c9c50fa..33f18fdac1 100644
--- a/charts/galoy-deps/Chart.yaml
+++ b/charts/galoy-deps/Chart.yaml
@@ -39,5 +39,5 @@ dependencies:
     condition: kubemonkey.enabled
   - name: opentelemetry-collector
     repository: https://open-telemetry.github.io/opentelemetry-helm-charts
-    version: 0.108.0
+    version: 0.111.0
     condition: opentelemetry-collector.enabled