diff --git a/Cargo.lock b/Cargo.lock
index b3ea12d90..f390c9290 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -5998,7 +5998,7 @@ dependencies = [
 
 [[package]]
 name = "zcash_primitives"
-version = "0.15.1"
+version = "0.16.0"
 dependencies = [
  "aes",
  "assert_matches",
diff --git a/Cargo.toml b/Cargo.toml
index 7421be5f3..192069de6 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -40,7 +40,7 @@ zcash_protocol = { version = "0.2", path = "components/zcash_protocol" }
 zip321 = { version = "0.0", path = "components/zip321" }
 
 zcash_note_encryption = "0.4"
-zcash_primitives = { version = "0.15", path = "zcash_primitives", default-features = false }
+zcash_primitives = { version = "0.16", path = "zcash_primitives", default-features = false }
 zcash_proofs = { version = "0.15", path = "zcash_proofs", default-features = false }
 
 # Shielded protocols
diff --git a/supply-chain/audits.toml b/supply-chain/audits.toml
index 65311d91e..d4839e448 100644
--- a/supply-chain/audits.toml
+++ b/supply-chain/audits.toml
@@ -577,6 +577,12 @@ criteria = "safe-to-deploy"
 delta = "0.2.0 -> 0.2.1"
 notes = "This release adds minor convenience methods and involves no unsafe code."
 
+[[audits.zcash_primitives]]
+who = "Kris Nuttycombe <kris@nutty.land>"
+criteria = "safe-to-deploy"
+delta = "0.15.1 -> 0.16.0"
+notes = "The primary change here is the switch from the `hdwallet` dependency to using `bip32`."
+
 [[audits.zerocopy]]
 who = "Daira-Emma Hopwood <daira@jacaranda.org>"
 criteria = "safe-to-deploy"
diff --git a/zcash_primitives/CHANGELOG.md b/zcash_primitives/CHANGELOG.md
index c9e16f133..379ca3f66 100644
--- a/zcash_primitives/CHANGELOG.md
+++ b/zcash_primitives/CHANGELOG.md
@@ -6,6 +6,9 @@ and this library adheres to Rust's notion of
 [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
 ## [Unreleased]
+
+## [0.16.0] - 2024-08-19
+
 ### Added
 - `zcash_primitives::legacy::keys`:
   - `impl From<TransparentKeyScope> for bip32::ChildNumber`
diff --git a/zcash_primitives/Cargo.toml b/zcash_primitives/Cargo.toml
index 375321283..bb015b074 100644
--- a/zcash_primitives/Cargo.toml
+++ b/zcash_primitives/Cargo.toml
@@ -1,7 +1,7 @@
 [package]
 name = "zcash_primitives"
 description = "Rust implementations of the Zcash primitives"
-version = "0.15.1"
+version = "0.16.0"
 authors = [
     "Jack Grigg <jack@z.cash>",
     "Kris Nuttycombe <kris@electriccoin.co>"