diff --git a/.changelog/unreleased/breaking-changes/187-cosmos-sdk-proto.md b/.changelog/v0.49.0/breaking-changes/187-cosmos-sdk-proto.md
similarity index 100%
rename from .changelog/unreleased/breaking-changes/187-cosmos-sdk-proto.md
rename to .changelog/v0.49.0/breaking-changes/187-cosmos-sdk-proto.md
diff --git a/.changelog/unreleased/features/237-transport-feature.md b/.changelog/v0.49.0/features/237-transport-feature.md
similarity index 100%
rename from .changelog/unreleased/features/237-transport-feature.md
rename to .changelog/v0.49.0/features/237-transport-feature.md
diff --git a/.changelog/v0.49.0/summary.md b/.changelog/v0.49.0/summary.md
new file mode 100644
index 00000000..f8e76814
--- /dev/null
+++ b/.changelog/v0.49.0/summary.md
@@ -0,0 +1,7 @@
+*September 24th, 2024*
+
+Starting from this release, Protobuf messages for the Cosmos SDK are not longer included in this crate,
+but rather are now re-exported from the [`cosmos-sdk-proto`](http://crates.io/crates/cosmos-sdk-proto) crate.
+
+Moreover, the generated transport code for `tonic` is now feature-gated under the `transport` feature,
+which is enabled by default.
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6310232c..41b6626a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,26 @@
 # CHANGELOG
 
+## v0.49.0
+
+*September 24th, 2024*
+
+Starting from this release, Protobuf messages for the Cosmos SDK are not longer included in this crate,
+but rather are now re-exported from the [`cosmos-sdk-proto`](http://crates.io/crates/cosmos-sdk-proto) crate.
+
+Moreover, the generated transport code for `tonic` is now feature-gated under the `transport` feature,
+which is enabled by default.
+
+### BREAKING CHANGES
+
+- Cosmos SDK protos are now re-exported from the `cosmos_sdk_proto`
+  crate instead of being generated as part of `ibc-proto`
+  ([\#187](https://github.com/cosmos/ibc-proto-rs/pull/187))
+
+### FEATURES
+
+- Feature-gate generated `tonic` transport code behind `transport` feature
+  ([\#237](https://github.com/cosmos/ibc-proto-rs/issues/237))
+
 ## v0.48.0
 
 *September 5th, 2024*
diff --git a/Cargo.toml b/Cargo.toml
index bfe9c807..d13b6b1d 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name         = "ibc-proto"
-version      = "0.48.0"
+version      = "0.49.0"
 authors      = ["Informal Systems <hello@informal.systems>"]
 edition      = "2021"
 license      = "Apache-2.0"