diff --git a/CHANGELOG b/CHANGELOG
new file mode 100644
index 0000000..27463c3
--- /dev/null
+++ b/CHANGELOG
@@ -0,0 +1,7 @@
+- 0.5.0 - 02-12-2023
+
+- Improved --backtraces implementation
+- Added --shapedump which is useful for lighter weight object shape dumps on Ruby 3.2 and up
+- Move heap dumping to a fork for better performance
+- Use TypedData API which has been supported for a very long time
+- Update CI and fix some small errors
diff --git a/lib/rbtrace/version.rb b/lib/rbtrace/version.rb
index 3234977..c873f0c 100644
--- a/lib/rbtrace/version.rb
+++ b/lib/rbtrace/version.rb
@@ -1,5 +1,5 @@
 # frozen_string_literal: true
 
 class RBTracer
-  VERSION = '0.4.14'
+  VERSION = "0.5.0"
 end