diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 872e404a9..484ffbf60 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,4 +1,4 @@
 {
-  ".": "0.5.5",
+  ".": "0.5.6",
   "apis": "0.2.41"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 096b29454..92bf1f952 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,32 @@
 # Changelog
 
+## [0.5.6](https://github.com/open-feature/open-feature-operator/compare/v0.5.5...v0.5.6) (2024-05-28)
+
+
+### ✨ New Features
+
+* add `flagd` CRD with ingress support ([#633](https://github.com/open-feature/open-feature-operator/issues/633)) ([b0b99a7](https://github.com/open-feature/open-feature-operator/commit/b0b99a7d101fb7e281394acd0d8b22a16546708f))
+* introduce new CRD for in-process evaluation ([#632](https://github.com/open-feature/open-feature-operator/issues/632)) ([51db913](https://github.com/open-feature/open-feature-operator/commit/51db913bc708cc60f00e430e372b68c28c7cbda2))
+
+
+### 🐛 Bug Fixes
+
+* helm sidecar resources not applied ([#639](https://github.com/open-feature/open-feature-operator/issues/639)) ([d549144](https://github.com/open-feature/open-feature-operator/commit/d54914460b9f01e10bdc958a46ff210fd0f4c374))
+* inject env variables to all pod containers ([#634](https://github.com/open-feature/open-feature-operator/issues/634)) ([b21378e](https://github.com/open-feature/open-feature-operator/commit/b21378e4e58b050b36abb8492f6f15be5bca6268))
+* use flagd standalone tag instead of sidecar tag for flagd deployments ([#643](https://github.com/open-feature/open-feature-operator/issues/643)) ([a8b7ad4](https://github.com/open-feature/open-feature-operator/commit/a8b7ad49d8364492ffef9c96bfe08c66cfaf6fe3))
+
+
+### 🧹 Chore
+
+* init workspace before linting ([#638](https://github.com/open-feature/open-feature-operator/issues/638)) ([65e20cf](https://github.com/open-feature/open-feature-operator/commit/65e20cf72b3e1c90e3c3a6ab714fd82c2189cd33))
+* release apis 0.2.41 ([#627](https://github.com/open-feature/open-feature-operator/issues/627)) ([546635e](https://github.com/open-feature/open-feature-operator/commit/546635e6d486fd0dbc4aba985e43a928918fd1f4))
+
+
+### 📚 Documentation
+
+* document new Flagd CRD ([#641](https://github.com/open-feature/open-feature-operator/issues/641)) ([06b399e](https://github.com/open-feature/open-feature-operator/commit/06b399e0cf39bcee3a2804759649e7a28a38a55a))
+* support in-process evaluation ([#640](https://github.com/open-feature/open-feature-operator/issues/640)) ([9721825](https://github.com/open-feature/open-feature-operator/commit/972182539ea9ce0440f700456ddeb7d36672a8fb))
+
 ## [0.5.5](https://github.com/open-feature/open-feature-operator/compare/v0.5.4...v0.5.5) (2024-05-13)
 
 
diff --git a/Makefile b/Makefile
index d3bf25d51..25b50eb26 100644
--- a/Makefile
+++ b/Makefile
@@ -6,7 +6,7 @@ ARCH?=amd64
 IMG?=$(RELEASE_REGISTRY)/$(RELEASE_IMAGE)
 # customize overlay to be used in the build, DEFAULT or HELM
 KUSTOMIZE_OVERLAY ?= DEFAULT
-CHART_VERSION=v0.5.5# x-release-please-version
+CHART_VERSION=v0.5.6# x-release-please-version
 # ENVTEST_K8S_VERSION refers to the version of kubebuilder assets to be downloaded by envtest binary.
 ENVTEST_K8S_VERSION = 1.26.1
 WAIT_TIMEOUT_SECONDS?=60
diff --git a/chart/open-feature-operator/Chart.yaml b/chart/open-feature-operator/Chart.yaml
index cd65789ff..bc8faca70 100755
--- a/chart/open-feature-operator/Chart.yaml
+++ b/chart/open-feature-operator/Chart.yaml
@@ -13,12 +13,12 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: "v0.5.5" # x-release-please-version
+version: "v0.5.6" # x-release-please-version
 # This is the version number of the application being deployed. This version number should be
 # incremented each time you make changes to the application. Versions are not expected to
 # follow Semantic Versioning. They should reflect the version the application is using.
 # It is recommended to use it with quotes.
-appVersion: "v0.5.5" # x-release-please-version
+appVersion: "v0.5.6" # x-release-please-version
 
 home: https://openfeature.dev
 icon: https://open-feature.github.io/open-feature-operator/chart/open-feature-operator/openfeature-logo.png
diff --git a/chart/open-feature-operator/values.yaml b/chart/open-feature-operator/values.yaml
index 35a283c9e..ec5cc0579 100644
--- a/chart/open-feature-operator/values.yaml
+++ b/chart/open-feature-operator/values.yaml
@@ -123,7 +123,7 @@ controllerManager:
       ## @param controllerManager.manager.image.repository Sets the image for the operator.
       repository: ghcr.io/open-feature/open-feature-operator
       ## @param controllerManager.manager.image.tag Sets the version tag for the operator.
-      tag: v0.5.5 # x-release-please-version
+      tag: v0.5.6 # x-release-please-version
     resources:
       limits:
         ## @param controllerManager.manager.resources.limits.cpu Sets cpu resource limits for operator.
diff --git a/docs/installation.md b/docs/installation.md
index 2858fc674..f8042fe18 100644
--- a/docs/installation.md
+++ b/docs/installation.md
@@ -62,13 +62,13 @@ Apply the release yaml directly via kubectl
 <!-- x-release-please-start-version -->
 ```sh
 kubectl create namespace open-feature-operator-system &&
-kubectl apply -f https://github.com/open-feature/open-feature-operator/releases/download/v0.5.5/release.yaml
+kubectl apply -f https://github.com/open-feature/open-feature-operator/releases/download/v0.5.6/release.yaml
 ```
 <!-- x-release-please-end -->
 ### Uninstall
 <!-- x-release-please-start-version -->
 ```sh
-kubectl delete -f https://github.com/open-feature/open-feature-operator/releases/download/v0.5.5/release.yaml &&
+kubectl delete -f https://github.com/open-feature/open-feature-operator/releases/download/v0.5.6/release.yaml &&
 kubectl delete namespace open-feature-operator-system
 ```
 <!-- x-release-please-end -->
diff --git a/docs/quick_start.md b/docs/quick_start.md
index aa21de2ba..7234db558 100644
--- a/docs/quick_start.md
+++ b/docs/quick_start.md
@@ -40,7 +40,7 @@ helm upgrade --install openfeature openfeature/open-feature-operator
 <!-- x-release-please-start-version -->
 ```sh
 kubectl create namespace open-feature-operator-system &&
-kubectl apply -f https://github.com/open-feature/open-feature-operator/releases/download/v0.5.5/release.yaml
+kubectl apply -f https://github.com/open-feature/open-feature-operator/releases/download/v0.5.6/release.yaml
 ```
 <!-- x-release-please-end -->