diff --git a/CHANGELOG.md b/CHANGELOG.md
index e4a6c8e..adaee96 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,10 @@
 # Changelog
 
+## [3.2.0] - July 10, 2024
+
+### New Features 
+- The new `useTrackEvent` hook is now available for tracking events within functional components. This hook offers all the existing track event functionalities provided by the SDK. ([#268](https://github.com/optimizely/react-sdk/pull/268))
+
 ## [3.1.2] - July 2, 2024
 
 ### Changed 
diff --git a/package.json b/package.json
index d78abee..26652f6 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@optimizely/react-sdk",
-  "version": "3.1.2",
+  "version": "3.2.0",
   "description": "React SDK for Optimizely Feature Experimentation, Optimizely Full Stack (legacy), and Optimizely Rollouts",
   "homepage": "https://github.com/optimizely/react-sdk",
   "repository": "https://github.com/optimizely/react-sdk",
diff --git a/src/client.spec.ts b/src/client.spec.ts
index e96c67a..99fdbdb 100644
--- a/src/client.spec.ts
+++ b/src/client.spec.ts
@@ -128,7 +128,7 @@ describe('ReactSDKClient', () => {
     expect(createInstanceSpy).toBeCalledWith({
       ...config,
       clientEngine: 'react-sdk',
-      clientVersion: '3.1.2',
+      clientVersion: '3.2.0',
     });
   });
 
diff --git a/src/client.ts b/src/client.ts
index d39cdc8..d7ef2b9 100644
--- a/src/client.ts
+++ b/src/client.ts
@@ -47,7 +47,7 @@ export interface OnReadyResult extends ResolveResult {
 }
 
 const REACT_SDK_CLIENT_ENGINE = 'react-sdk';
-const REACT_SDK_CLIENT_VERSION = '3.1.2';
+const REACT_SDK_CLIENT_VERSION = '3.2.0';
 
 export const DefaultUser: UserInfo = {
   id: null,