diff --git a/package.json b/package.json
index b5dedaa970..cdeb2ff5ca 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "root",
-  "version": "40.0.0",
+  "version": "41.0.0",
   "private": true,
   "repository": {
     "type": "git",
diff --git a/packages/snaps-controllers/CHANGELOG.md b/packages/snaps-controllers/CHANGELOG.md
index e78025073c..ad8f75a1c0 100644
--- a/packages/snaps-controllers/CHANGELOG.md
+++ b/packages/snaps-controllers/CHANGELOG.md
@@ -6,6 +6,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [7.0.1]
+### Fixed
+- Fix encryption key caching issues ([#2326](https://github.com/MetaMask/snaps/pull/2326))
+
 ## [7.0.0]
 ### Changed
 - **BREAKING:** Refactor encryption to enable caching ([#2316](https://github.com/MetaMask/snaps/pull/2316))
@@ -230,7 +234,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
   - The version of the package no longer needs to match the version of all other
     MetaMask Snaps packages.
 
-[Unreleased]: https://github.com/MetaMask/snaps/compare/@metamask/snaps-controllers@7.0.0...HEAD
+[Unreleased]: https://github.com/MetaMask/snaps/compare/@metamask/snaps-controllers@7.0.1...HEAD
+[7.0.1]: https://github.com/MetaMask/snaps/compare/@metamask/snaps-controllers@7.0.0...@metamask/snaps-controllers@7.0.1
 [7.0.0]: https://github.com/MetaMask/snaps/compare/@metamask/snaps-controllers@6.0.4...@metamask/snaps-controllers@7.0.0
 [6.0.4]: https://github.com/MetaMask/snaps/compare/@metamask/snaps-controllers@6.0.3...@metamask/snaps-controllers@6.0.4
 [6.0.3]: https://github.com/MetaMask/snaps/compare/@metamask/snaps-controllers@6.0.2...@metamask/snaps-controllers@6.0.3
diff --git a/packages/snaps-controllers/package.json b/packages/snaps-controllers/package.json
index 9aa3db5a09..6f6448db2e 100644
--- a/packages/snaps-controllers/package.json
+++ b/packages/snaps-controllers/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@metamask/snaps-controllers",
-  "version": "7.0.0",
+  "version": "7.0.1",
   "description": "Controllers for MetaMask Snaps.",
   "repository": {
     "type": "git",