diff --git a/.changelog/v5.1.0/api-breaking/1995-deprecate-soft-opt-out.md b/.changelog/v5.1.0/api-breaking/1995-deprecate-soft-opt-out.md
new file mode 100644
index 0000000000..bf47d6e7e4
--- /dev/null
+++ b/.changelog/v5.1.0/api-breaking/1995-deprecate-soft-opt-out.md
@@ -0,0 +1,2 @@
+- Remove soft opt-out feature. ([\#1995](https://github.com/cosmos/interchain-security/pull/1995))
+Backporting of ([\#1964](https://github.com/cosmos/interchain-security/pull/1964)).
\ No newline at end of file
diff --git a/.changelog/unreleased/api-breaking/provider/1998-change-ux-in-key-assignment.md b/.changelog/v5.1.0/api-breaking/provider/1998-change-ux-in-key-assignment.md
similarity index 100%
rename from .changelog/unreleased/api-breaking/provider/1998-change-ux-in-key-assignment.md
rename to .changelog/v5.1.0/api-breaking/provider/1998-change-ux-in-key-assignment.md
diff --git a/.changelog/unreleased/dependencies/2013-bump-comet.md b/.changelog/v5.1.0/dependencies/2013-bump-comet.md
similarity index 100%
rename from .changelog/unreleased/dependencies/2013-bump-comet.md
rename to .changelog/v5.1.0/dependencies/2013-bump-comet.md
diff --git a/.changelog/unreleased/dependencies/2053-bump-ibc.md b/.changelog/v5.1.0/dependencies/2053-bump-ibc.md
similarity index 100%
rename from .changelog/unreleased/dependencies/2053-bump-ibc.md
rename to .changelog/v5.1.0/dependencies/2053-bump-ibc.md
diff --git a/.changelog/unreleased/dependencies/2053-bump-sdk.md b/.changelog/v5.1.0/dependencies/2053-bump-sdk.md
similarity index 100%
rename from .changelog/unreleased/dependencies/2053-bump-sdk.md
rename to .changelog/v5.1.0/dependencies/2053-bump-sdk.md
diff --git a/.changelog/v5.1.0/features/1995-deprecate-soft-opt-out.md b/.changelog/v5.1.0/features/1995-deprecate-soft-opt-out.md
new file mode 100644
index 0000000000..6b447d3ed6
--- /dev/null
+++ b/.changelog/v5.1.0/features/1995-deprecate-soft-opt-out.md
@@ -0,0 +1,2 @@
+- Remove soft opt-out feature. ([\#1995](https://github.com/cosmos/interchain-security/pull/1995))
+  Backporting of ([\#1964](https://github.com/cosmos/interchain-security/pull/1964)).
\ No newline at end of file
diff --git a/.changelog/v5.1.0/state-breaking/1995-deprecate-soft-opt-out.md b/.changelog/v5.1.0/state-breaking/1995-deprecate-soft-opt-out.md
new file mode 100644
index 0000000000..6b447d3ed6
--- /dev/null
+++ b/.changelog/v5.1.0/state-breaking/1995-deprecate-soft-opt-out.md
@@ -0,0 +1,2 @@
+- Remove soft opt-out feature. ([\#1995](https://github.com/cosmos/interchain-security/pull/1995))
+  Backporting of ([\#1964](https://github.com/cosmos/interchain-security/pull/1964)).
\ No newline at end of file
diff --git a/.changelog/unreleased/state-breaking/2013-bump-comet.md b/.changelog/v5.1.0/state-breaking/2013-bump-comet.md
similarity index 100%
rename from .changelog/unreleased/state-breaking/2013-bump-comet.md
rename to .changelog/v5.1.0/state-breaking/2013-bump-comet.md
diff --git a/.changelog/unreleased/state-breaking/2053-bump-ibc.md b/.changelog/v5.1.0/state-breaking/2053-bump-ibc.md
similarity index 100%
rename from .changelog/unreleased/state-breaking/2053-bump-ibc.md
rename to .changelog/v5.1.0/state-breaking/2053-bump-ibc.md
diff --git a/.changelog/unreleased/state-breaking/2053-bump-sdk.md b/.changelog/v5.1.0/state-breaking/2053-bump-sdk.md
similarity index 100%
rename from .changelog/unreleased/state-breaking/2053-bump-sdk.md
rename to .changelog/v5.1.0/state-breaking/2053-bump-sdk.md
diff --git a/.changelog/unreleased/state-breaking/provider/1998-change-ux-in-key-assignment.md b/.changelog/v5.1.0/state-breaking/provider/1998-change-ux-in-key-assignment.md
similarity index 100%
rename from .changelog/unreleased/state-breaking/provider/1998-change-ux-in-key-assignment.md
rename to .changelog/v5.1.0/state-breaking/provider/1998-change-ux-in-key-assignment.md
diff --git a/.changelog/v5.1.0/summary.md b/.changelog/v5.1.0/summary.md
new file mode 100644
index 0000000000..aea175d241
--- /dev/null
+++ b/.changelog/v5.1.0/summary.md
@@ -0,0 +1 @@
+*July 19, 2024*
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 7cc3e8a931..a73bbdbcbb 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,55 @@
 # CHANGELOG
 
+## v5.1.0
+
+*July 19, 2024*
+
+### API BREAKING
+
+- General
+  - Remove soft opt-out feature. ([\#1995](https://github.com/cosmos/interchain-security/pull/1995))
+    Backporting of ([\#1964](https://github.com/cosmos/interchain-security/pull/1964)).
+- [Provider](x/ccv/provider)
+  - Change the UX in key assignment by returning an error if a validator tries to
+    reuse the same consumer key.
+    ([\#1998](https://github.com/cosmos/interchain-security/pull/1998))
+
+### DEPENDENCIES
+
+- Bump [CometBFT](https://github.com/cometbft/cometbft) to
+  [v0.38.9](https://github.com/cometbft/cometbft/releases/tag/v0.38.9).
+  ([\#2013](https://github.com/cosmos/interchain-security/pull/2013))
+- Bump [ibc-go](https://github.com/cosmos/ibc-go) to
+  [v8.3.2](https://github.com/cosmos/ibc-go/releases/tag/v8.3.2).
+  ([\#2053](https://github.com/cosmos/interchain-security/pull/2053))
+- Bump [cosmos-sdk](https://github.com/cosmos/cosmos-sdk) to
+[v0.50.8](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.50.8)
+([\#2053](https://github.com/cosmos/interchain-security/pull/2053))
+
+### FEATURES
+
+- Remove soft opt-out feature. ([\#1995](https://github.com/cosmos/interchain-security/pull/1995))
+  Backporting of ([\#1964](https://github.com/cosmos/interchain-security/pull/1964)).
+
+### STATE BREAKING
+
+- General
+  - Remove soft opt-out feature. ([\#1995](https://github.com/cosmos/interchain-security/pull/1995))
+    Backporting of ([\#1964](https://github.com/cosmos/interchain-security/pull/1964)).
+  - Bump [CometBFT](https://github.com/cometbft/cometbft) to
+    [v0.38.9](https://github.com/cometbft/cometbft/releases/tag/v0.38.9).
+    ([\#2013](https://github.com/cosmos/interchain-security/pull/2013))
+  - Bump [ibc-go](https://github.com/cosmos/ibc-go) to
+    [v8.3.2](https://github.com/cosmos/ibc-go/releases/tag/v8.3.2).
+    ([\#2053](https://github.com/cosmos/interchain-security/pull/2053))
+  - Bump [cosmos-sdk](https://github.com/cosmos/cosmos-sdk) to
+    [v0.50.8](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.50.8)
+    ([\#2053](https://github.com/cosmos/interchain-security/pull/2053))
+- [Provider](x/ccv/provider)
+  - Change the UX in key assignment by returning an error if a validator tries to
+    reuse the same consumer key.
+    ([\#1998](https://github.com/cosmos/interchain-security/pull/1998))
+
 ## v5.0.0
 
 *May 9, 2024*