diff --git a/ddtrace/__init__.py b/ddtrace/__init__.py
index da145870271..8a9a0898622 100644
--- a/ddtrace/__init__.py
+++ b/ddtrace/__init__.py
@@ -4,7 +4,7 @@
 from .span import Span
 from .tracer import Tracer
 
-__version__ = '0.4.0'
+__version__ = '0.5.0'
 
 # a global tracer instance
 tracer = Tracer()