diff --git a/sdk/storage/azure-storage-blob/CHANGELOG.md b/sdk/storage/azure-storage-blob/CHANGELOG.md
index 0fbff98a2043..6a8b317892d7 100644
--- a/sdk/storage/azure-storage-blob/CHANGELOG.md
+++ b/sdk/storage/azure-storage-blob/CHANGELOG.md
@@ -1,5 +1,15 @@
 # Release History
 
+## 12.32.1 (Unreleased)
+
+### Features Added
+
+### Breaking Changes
+
+### Bugs Fixed
+
+### Other Changes
+
 ## 12.32.0 (2026-11-11)
 
 ### Features Added
diff --git a/sdk/storage/azure-storage-blob/azure/storage/blob/_version.py b/sdk/storage/azure-storage-blob/azure/storage/blob/_version.py
index 997feb423340..1d3b50c1bf3d 100644
--- a/sdk/storage/azure-storage-blob/azure/storage/blob/_version.py
+++ b/sdk/storage/azure-storage-blob/azure/storage/blob/_version.py
@@ -4,4 +4,4 @@
 # license information.
 # --------------------------------------------------------------------------
 
-VERSION = "12.32.0"
+VERSION = "12.32.1"