diff --git a/.unreleased/pr_7182 b/.unreleased/pr_7182
deleted file mode 100644
index 34061c5a4a3..00000000000
--- a/.unreleased/pr_7182
+++ /dev/null
@@ -1 +0,0 @@
-Fixes: #7182 Fix untier_chunk for hypertables with foreign keys
diff --git a/CHANGELOG.md b/CHANGELOG.md
index b9af3d4f09a..b7fe0e2c590 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,14 @@
 `psql` with the `-X` flag to prevent any `.psqlrc` commands from
 accidentally triggering the load of a previous DB version.**
 
+## 2.16.1 (2024-08-06)
+
+This release contains bug fixes since the 2.16.0 release. We recommend
+that you upgrade at the next available opportunity.
+
+**Bugfixes**
+* #7182 Fix untier_chunk for hypertables with foreign keys
+
 ## 2.16.0 (2024-07-31)
 
 This release contains significant performance improvements when working with compressed data, extended join
diff --git a/sql/CMakeLists.txt b/sql/CMakeLists.txt
index 69fea612a0f..1f905f892bf 100644
--- a/sql/CMakeLists.txt
+++ b/sql/CMakeLists.txt
@@ -41,11 +41,12 @@ set(MOD_FILES
     updates/2.15.0--2.15.1.sql
     updates/2.15.1--2.15.2.sql
     updates/2.15.2--2.15.3.sql
-    updates/2.15.3--2.16.0.sql)
+    updates/2.15.3--2.16.0.sql
+    updates/2.16.0--2.16.1.sql)
 
 # The downgrade file to generate a downgrade script for the current version, as
 # specified in version.config
-set(CURRENT_REV_FILE 2.16.0--2.15.3.sql)
+set(CURRENT_REV_FILE 2.16.1--2.16.0.sql)
 # Files for generating old downgrade scripts. This should only include files for
 # downgrade from one version to its previous version since we do not support
 # skipping versions when downgrading.
@@ -82,7 +83,8 @@ set(OLD_REV_FILES
     2.15.1--2.15.0.sql
     2.15.2--2.15.1.sql
     2.15.3--2.15.2.sql
-    2.16.0--2.15.3.sql)
+    2.16.0--2.15.3.sql
+    2.16.1--2.16.0.sql)
 
 set(MODULE_PATHNAME "$libdir/timescaledb-${PROJECT_VERSION_MOD}")
 set(LOADER_PATHNAME "$libdir/timescaledb")
diff --git a/sql/updates/2.16.0--2.16.1.sql b/sql/updates/2.16.0--2.16.1.sql
new file mode 100644
index 00000000000..e69de29bb2d
diff --git a/sql/updates/2.16.1--2.16.0.sql b/sql/updates/2.16.1--2.16.0.sql
new file mode 100644
index 00000000000..e69de29bb2d
diff --git a/version.config b/version.config
index 7a3a25229c8..1dd0ec4df2d 100644
--- a/version.config
+++ b/version.config
@@ -1,3 +1,3 @@
-version = 2.16.0
-update_from_version = 2.15.3
-downgrade_to_version = 2.15.3
+version = 2.16.1
+update_from_version = 2.16.0
+downgrade_to_version = 2.16.0