diff --git a/treetensor/config/meta.py b/treetensor/config/meta.py
index 0c68e8f74b..64fedbdf36 100644
--- a/treetensor/config/meta.py
+++ b/treetensor/config/meta.py
@@ -7,7 +7,7 @@
 __TITLE__ = "DI-treetensor"
 
 #: Version of this project.
-__VERSION__ = "0.4.1"
+__VERSION__ = "0.5.0"
 
 #: Short description of the project, will be included in ``setup.py``.
 __DESCRIPTION__ = 'A flexible, generalized tree-based tensor structure.'