diff --git a/README.md b/README.md
index 3cd130453c3c..5c983b8bafab 100644
--- a/README.md
+++ b/README.md
@@ -123,7 +123,7 @@ The class provides functionality to compute previous image according to alpha, b
 **With `pip`**
     
 ```bash
-pip install --upgrade diffusers  # should install diffusers 0.2.0
+pip install --upgrade diffusers  # should install diffusers 0.2.1
 ```
 
 **With `conda`**
diff --git a/setup.py b/setup.py
index d3a4fd68c537..13163607591c 100644
--- a/setup.py
+++ b/setup.py
@@ -181,7 +181,7 @@ def run(self):
 
 setup(
     name="diffusers",
-    version="0.2.0",
+    version="0.2.1",
     description="Diffusers",
     long_description=open("README.md", "r", encoding="utf-8").read(),
     long_description_content_type="text/markdown",
diff --git a/src/diffusers/__init__.py b/src/diffusers/__init__.py
index 922c7acd5189..2f517e9856bb 100644
--- a/src/diffusers/__init__.py
+++ b/src/diffusers/__init__.py
@@ -4,7 +4,7 @@
 from .utils import is_inflect_available, is_scipy_available, is_transformers_available, is_unidecode_available
 
 
-__version__ = "0.2.0"
+__version__ = "0.2.1"
 
 from .modeling_utils import ModelMixin
 from .models import AutoencoderKL, UNet2DConditionModel, UNet2DModel, VQModel