diff --git a/package.json b/package.json
index d6f031e7f6..23420db32f 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@metamask/core-monorepo",
-  "version": "274.0.0",
+  "version": "275.0.0",
   "private": true,
   "description": "Monorepo for packages shared between MetaMask clients",
   "repository": {
diff --git a/packages/transaction-controller/CHANGELOG.md b/packages/transaction-controller/CHANGELOG.md
index 9a100c5da3..6b7378d373 100644
--- a/packages/transaction-controller/CHANGELOG.md
+++ b/packages/transaction-controller/CHANGELOG.md
@@ -7,6 +7,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [42.1.0]
+
 ### Added
 
 - Validate `gas` and `gasLimit` are hexadecimal strings ([#5093](https://github.com/MetaMask/core/pull/5093))
@@ -14,6 +16,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 ### Changed
 
 - Bump `@metamask/base-controller` from `^7.0.0` to `^7.1.0` ([#5079](https://github.com/MetaMask/core/pull/5079))
+- Bump `@metamask/utils` to `^11.0.1` and `@metamask/rpc-errors` to `^7.0.2` ([#5080](https://github.com/MetaMask/core/pull/5080))
 
 ## [42.0.0]
 
@@ -1223,7 +1226,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
     All changes listed after this point were applied to this package following the monorepo conversion.
 
-[Unreleased]: https://github.com/MetaMask/core/compare/@metamask/transaction-controller@42.0.0...HEAD
+[Unreleased]: https://github.com/MetaMask/core/compare/@metamask/transaction-controller@42.1.0...HEAD
+[42.1.0]: https://github.com/MetaMask/core/compare/@metamask/transaction-controller@42.0.0...@metamask/transaction-controller@42.1.0
 [42.0.0]: https://github.com/MetaMask/core/compare/@metamask/transaction-controller@41.1.0...@metamask/transaction-controller@42.0.0
 [41.1.0]: https://github.com/MetaMask/core/compare/@metamask/transaction-controller@41.0.0...@metamask/transaction-controller@41.1.0
 [41.0.0]: https://github.com/MetaMask/core/compare/@metamask/transaction-controller@40.1.0...@metamask/transaction-controller@41.0.0
diff --git a/packages/transaction-controller/package.json b/packages/transaction-controller/package.json
index 099e6199ce..8ce6c0cc48 100644
--- a/packages/transaction-controller/package.json
+++ b/packages/transaction-controller/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@metamask/transaction-controller",
-  "version": "42.0.0",
+  "version": "42.1.0",
   "description": "Stores transactions alongside their periodically updated statuses and manages interactions such as approval and cancellation",
   "keywords": [
     "MetaMask",
diff --git a/packages/user-operation-controller/package.json b/packages/user-operation-controller/package.json
index 4b3cde8a8c..dd34719e67 100644
--- a/packages/user-operation-controller/package.json
+++ b/packages/user-operation-controller/package.json
@@ -67,7 +67,7 @@
     "@metamask/gas-fee-controller": "^22.0.2",
     "@metamask/keyring-controller": "^19.0.2",
     "@metamask/network-controller": "^22.1.1",
-    "@metamask/transaction-controller": "^42.0.0",
+    "@metamask/transaction-controller": "^42.1.0",
     "@types/jest": "^27.4.1",
     "deepmerge": "^4.2.2",
     "jest": "^27.5.1",
diff --git a/yarn.lock b/yarn.lock
index 91a942ffa5..7b7447656d 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -3905,7 +3905,7 @@ __metadata:
   languageName: node
   linkType: hard
 
-"@metamask/transaction-controller@npm:^42.0.0, @metamask/transaction-controller@workspace:packages/transaction-controller":
+"@metamask/transaction-controller@npm:^42.1.0, @metamask/transaction-controller@workspace:packages/transaction-controller":
   version: 0.0.0-use.local
   resolution: "@metamask/transaction-controller@workspace:packages/transaction-controller"
   dependencies:
@@ -3975,7 +3975,7 @@ __metadata:
     "@metamask/polling-controller": "npm:^12.0.2"
     "@metamask/rpc-errors": "npm:^7.0.2"
     "@metamask/superstruct": "npm:^3.1.0"
-    "@metamask/transaction-controller": "npm:^42.0.0"
+    "@metamask/transaction-controller": "npm:^42.1.0"
     "@metamask/utils": "npm:^11.0.1"
     "@types/jest": "npm:^27.4.1"
     bn.js: "npm:^5.2.1"