diff --git a/sdk/storage/azure-storage-blobs/CHANGELOG.md b/sdk/storage/azure-storage-blobs/CHANGELOG.md
index 60f3b6909d..fd00de8a79 100644
--- a/sdk/storage/azure-storage-blobs/CHANGELOG.md
+++ b/sdk/storage/azure-storage-blobs/CHANGELOG.md
@@ -1,14 +1,15 @@
 # Release History
 
-## 12.7.0-beta.1 (Unreleased)
+## 12.7.0-beta.1 (2023-02-07)
 
 ### Features Added
 
-### Breaking Changes
+- Bumped up API version to `2021-12-02`.
+- Added support for new access tier `Cold`.
 
 ### Bugs Fixed
 
-### Other Changes
+- Fixed a bug where setting premium page blob tier operations always fail.
 
 ## 12.6.2 (2022-10-11)
 
diff --git a/sdk/storage/azure-storage-blobs/vcpkg.json b/sdk/storage/azure-storage-blobs/vcpkg.json
index 78b0f74cdf..daf05c45da 100644
--- a/sdk/storage/azure-storage-blobs/vcpkg.json
+++ b/sdk/storage/azure-storage-blobs/vcpkg.json
@@ -1,6 +1,6 @@
 {
   "name": "azure-storage-blobs-cpp",
-  "version-semver": "12.6.2",
+  "version-semver": "12.7.0-beta.1",
   "description": [
     "Microsoft Azure Storage Blobs SDK for C++",
     "This library provides Azure Storage Blobs SDK."
diff --git a/sdk/storage/azure-storage-files-shares/CHANGELOG.md b/sdk/storage/azure-storage-files-shares/CHANGELOG.md
index 146fc1aca4..8fff0e00f3 100644
--- a/sdk/storage/azure-storage-files-shares/CHANGELOG.md
+++ b/sdk/storage/azure-storage-files-shares/CHANGELOG.md
@@ -1,14 +1,11 @@
 # Release History
 
-## 12.4.0-beta.1 (Unreleased)
+## 12.4.0-beta.1 (2023-02-07)
 
 ### Features Added
 
-### Breaking Changes
-
-### Bugs Fixed
-
-### Other Changes
+- Bumped up API version to `2021-12-02`.
+- Added support for invalid xml characters in file and directory names for `ShareDirectoryClient::ListFilesAndDirectories()`, `ShareDirectoryClient::ListHandles()` and `ShareFileClient::ListHandles()`.
 
 ### Acknowledgments
 
diff --git a/sdk/storage/azure-storage-files-shares/vcpkg.json b/sdk/storage/azure-storage-files-shares/vcpkg.json
index be57f18fcd..c4dc0c66d2 100644
--- a/sdk/storage/azure-storage-files-shares/vcpkg.json
+++ b/sdk/storage/azure-storage-files-shares/vcpkg.json
@@ -1,6 +1,6 @@
 {
   "name": "azure-storage-files-shares-cpp",
-  "version-semver": "12.3.0",
+  "version-semver": "12.4.0-beta.1",
   "description": [
     "Microsoft Azure Storage Files Shares SDK for C++",
     "This library provides Azure Storage Files Shares SDK."