diff --git a/Cargo.lock b/Cargo.lock
index 5e636ccd6..e2566608d 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1647,7 +1647,7 @@ dependencies = [
 
 [[package]]
 name = "fvm"
-version = "3.11.1"
+version = "3.12.0"
 dependencies = [
  "anyhow",
  "arbitrary",
@@ -1815,7 +1815,7 @@ dependencies = [
 
 [[package]]
 name = "fvm_sdk"
-version = "3.11.1"
+version = "3.12.0"
 dependencies = [
  "cid",
  "fvm_ipld_encoding",
@@ -1828,7 +1828,7 @@ dependencies = [
 
 [[package]]
 name = "fvm_shared"
-version = "3.11.1"
+version = "3.12.0"
 dependencies = [
  "anyhow",
  "arbitrary",
diff --git a/Cargo.toml b/Cargo.toml
index 3c8ffc5a7..826623fed 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -8,7 +8,7 @@ members = [
 ]
 
 [workspace.package]
-version = "3.11.1"
+version = "3.12.0"
 license = "MIT OR Apache-2.0"
 edition = "2021"
 repository = "https://github.com/filecoin-project/ref-fvm"
@@ -23,10 +23,9 @@ ipld-core = { version = "0.4.1", features = ["serde"] }
 wasmtime = { version = "25.0.2", default-features = false, features = ["cranelift", "pooling-allocator", "parallel-compilation", "runtime"] }
 wasmtime-environ = "25.0.2"
 
-fvm = { path = "fvm", version = "~3.11.1", default-features = false }
-fvm_shared = { path = "shared", version = "~3.11.1", default-features = false }
-fvm_sdk = { path = "sdk", version = "~3.11.1" }
-fvm_integration_tests = { path = "testing/integration", version = "~3.11.1" }
+fvm = { path = "fvm", version = "~3.12.0", default-features = false }
+fvm_shared = { path = "shared", version = "~3.12.0", default-features = false }
+fvm_sdk = { path = "sdk", version = "~3.12.0" }
 
 fvm_ipld_hamt = { version = "0.10.2"}
 fvm_ipld_amt = { version = "0.7.3"}
diff --git a/fvm/CHANGELOG.md b/fvm/CHANGELOG.md
index 9163cfbbb..56fbf594a 100644
--- a/fvm/CHANGELOG.md
+++ b/fvm/CHANGELOG.md
@@ -4,6 +4,13 @@ Changes to the reference FVM implementation.
 
 ## [Unreleased]
 
+## 3.12.0 [2024-11-21]
+
+- Update `cid` to v0.11 and `multihash` to v0.19.
+- Update to `fvm_ipld_blockstore` 0.3.0 and `fvm_ipld_encoding` 0.5.0.
+
+You will have to update your multihash and cid crates to be compatible, see the [multihash release notes](https://github.com/multiformats/rust-multihash/blob/master/CHANGELOG.md#-2023-06-06) for details on the breaking changes.
+
 ## 3.11.1 [2024-10-21]
 
 - Update to wasmtime 25.
diff --git a/sdk/CHANGELOG.md b/sdk/CHANGELOG.md
index ff3fc5ed6..74203b9d9 100644
--- a/sdk/CHANGELOG.md
+++ b/sdk/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 ## [Unreleased]
 
+## 3.12.0 [2024-11-21]
+
+- Update `cid` to v0.11 and `multihash` to v0.19.
+- Update to `fvm_ipld_blockstore` 0.3.0 and `fvm_ipld_encoding` 0.5.0.
+
+You will have to update your multihash and cid crates to be compatible, see the [multihash release notes](https://github.com/multiformats/rust-multihash/blob/master/CHANGELOG.md#-2023-06-06) for details on the breaking changes.
+
 ## 3.11.1 [2024-10-21]
 
 - Update to wasmtime 25.
diff --git a/shared/CHANGELOG.md b/shared/CHANGELOG.md
index 4b6d6a38c..cf3188e32 100644
--- a/shared/CHANGELOG.md
+++ b/shared/CHANGELOG.md
@@ -2,6 +2,13 @@
 
 ## [Unreleased]
 
+## 3.12.0 [2024-11-21]
+
+- Update `cid` to v0.11 and `multihash` to v0.19.
+- Update to `fvm_ipld_blockstore` 0.3.0 and `fvm_ipld_encoding` 0.5.0.
+
+You will have to update your multihash and cid crates to be compatible, see the [multihash release notes](https://github.com/multiformats/rust-multihash/blob/master/CHANGELOG.md#-2023-06-06) for details on the breaking changes.
+
 ## 3.11.1 [2024-10-21]
 
 - Update to wasmtime 25.