diff --git a/CHANGELOG.md b/CHANGELOG.md
index 00565fd..9368454 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,4 @@
 ## Pending
-- [\#47](https://github.com/arkworks-rs/std/pull/47) Fix incorrect use of atomic variable in `src/perf_trace.rs`
 
 ### Breaking changes
 
@@ -9,6 +8,17 @@
 
 ### Bug fixes
 
+## v0.5.0
+
+### Breaking changes
+
+### Features
+
+### Improvements
+
+### Bug fixes
+- [\#47](https://github.com/arkworks-rs/std/pull/47) Fix incorrect use of atomic variable in `src/perf_trace.rs`
+
 ## v0.4.0
 
 ### Breaking changes
diff --git a/Cargo.toml b/Cargo.toml
index 96c9237..78f59df 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "ark-std"
-version = "0.4.0"
+version = "0.5.0"
 authors = [ "arkworks contributors" ]
 description = "A library for no_std compatibility"
 homepage = "https://arkworks.rs"