diff --git a/Gemfile b/Gemfile
index 1f49e56a..65f1bb6b 100644
--- a/Gemfile
+++ b/Gemfile
@@ -63,11 +63,11 @@ group :jekyll_optional_dependencies do
   gem "toml", "~> 0.1.0"
   gem "coderay", "~> 1.1.0"
   gem "jekyll-docs", :path => '../docs' if Dir.exist?('../docs') && ENV['JEKYLL_VERSION']
-  gem "jekyll-gist", "~> 1.0"
-  gem "jekyll-feed", "~> 0.1.3"
-  gem "jekyll-coffeescript", "~> 1.0"
-  gem "jekyll-redirect-from", "~> 0.9.1"
-  gem "jekyll-paginate", "~> 1.0"
+  gem "jekyll-gist"
+  gem "jekyll-feed"
+  gem "jekyll-coffeescript"
+  gem "jekyll-redirect-from"
+  gem "jekyll-paginate"
   gem "mime-types", "~> 3.0"
   gem "kramdown", "~> 1.9"
   gem "rdoc", "~> 4.2"
@@ -90,7 +90,7 @@ group :site do
 
   gem "jemoji", "0.5.1"
   gem "jekyll-sitemap"
-  gem "jekyll-seo-tag", "~> 1.1"
+  gem "jekyll-seo-tag"
   gem "jekyll-avatar"
   gem "jekyll-mentions"
 end
diff --git a/History.markdown b/History.markdown
index bda8b06e..ae8a89e4 100644
--- a/History.markdown
+++ b/History.markdown
@@ -1,4 +1,16 @@
-## HEAD
+## 3.2.1 / 2016-08-02
+
+### Bug Fixes
+
+  * Include theme directories in default gemspec (#5152)
+  * Fix for symlinked themes (#5156)
+  * Layout: set `relative_path` without using Pathname (#5164)
+
+### Development Fixes
+
+  * Add test to build the default site (#5154)
+  * script/default-site: specify `BUNDLE_GEMFILE` for new site (#5178)
+  * script/default-site: read Jekyll source from local clone (#5188)
 
 ### Site Enhancements
 
@@ -10,18 +22,6 @@
   * index.html: update instructions to require bundler  (#5169)
   * docs/quickstart: update instructions to require bundler (#5168)
 
-### Bug Fixes
-
-  * Include theme directories in default gemspec (#5152)
-  * Fix for symlinked themes (#5156)
-  * Layout: set relative_path without using Pathname (#5164)
-
-### Development Fixes
-
-  * Add test to build the default site (#5154)
-  * script/default-site: specify BUNDLE_GEMFILE for new site (#5178)
-  * script/default-site: read Jekyll source from local clone (#5188)
-
 ## 3.2.0 / 2016-07-26
 
 ### Minor Enhancements
diff --git a/lib/jekyll/version.rb b/lib/jekyll/version.rb
index 79ca2c9d..7c342718 100644
--- a/lib/jekyll/version.rb
+++ b/lib/jekyll/version.rb
@@ -1,3 +1,3 @@
 module Jekyll
-  VERSION = "3.2.0".freeze
+  VERSION = "3.2.1".freeze
 end
diff --git a/rake/site.rake b/rake/site.rake
index 462556f3..8dd283fb 100644
--- a/rake/site.rake
+++ b/rake/site.rake
@@ -37,7 +37,6 @@ namespace :site do
     require "jekyll"
     Jekyll::Commands::Build.process({
       "profile" => true,
-      "verbose" => true,
       "source"      => File.expand_path("site"),
       "destination" => File.expand_path("site/_site")
     })
@@ -85,7 +84,6 @@ namespace :site do
     ENV['JEKYLL_ENV'] = 'production'
     require "jekyll"
     Jekyll::Commands::Build.process({
-      "verbose" => true,
       "source"       => File.expand_path("site"),
       "destination"  => File.expand_path("gh-pages"),
       "sass"         => { "style" => "compressed" }
diff --git a/site/_docs/history.md b/site/_docs/history.md
index d8d3f2d8..f17b535e 100644
--- a/site/_docs/history.md
+++ b/site/_docs/history.md
@@ -5,6 +5,35 @@ permalink: "/docs/history/"
 note: This file is autogenerated. Edit /History.markdown instead.
 ---
 
+## 3.2.1 / 2016-08-02
+{: #v3-2-1}
+
+### Bug Fixes
+{: #bug-fixes-v3-2-1}
+
+- Include theme directories in default gemspec ([#5152]({{ site.repository }}/issues/5152))
+- Fix for symlinked themes ([#5156]({{ site.repository }}/issues/5156))
+- Layout: set `relative_path` without using Pathname ([#5164]({{ site.repository }}/issues/5164))
+
+### Development Fixes
+{: #development-fixes-v3-2-1}
+
+- Add test to build the default site ([#5154]({{ site.repository }}/issues/5154))
+- script/default-site: specify `BUNDLE_GEMFILE` for new site ([#5178]({{ site.repository }}/issues/5178))
+- script/default-site: read Jekyll source from local clone ([#5188]({{ site.repository }}/issues/5188))
+
+### Site Enhancements
+{: #site-enhancements-v3-2-1}
+
+- Enable site excerpts ([#5150]({{ site.repository }}/issues/5150))
+- Initial 404 page ([#5143]({{ site.repository }}/issues/5143))
+- Remove the "this feature is unreleased" warning from the theme docs ([#5158]({{ site.repository }}/issues/5158))
+- Future True on GitHub Pages note ([#5173]({{ site.repository }}/issues/5173))
+- Minor updates and corrections ([#5177]({{ site.repository }}/issues/5177))
+- index.html: update instructions to require bundler  ([#5169]({{ site.repository }}/issues/5169))
+- docs/quickstart: update instructions to require bundler ([#5168]({{ site.repository }}/issues/5168))
+
+
 ## 3.2.0 / 2016-07-26
 {: #v3-2-0}
 
diff --git a/site/_posts/2016-08-02-jekyll-3-2-1-released.markdown b/site/_posts/2016-08-02-jekyll-3-2-1-released.markdown
new file mode 100644
index 00000000..f4d17e04
--- /dev/null
+++ b/site/_posts/2016-08-02-jekyll-3-2-1-released.markdown
@@ -0,0 +1,24 @@
+---
+layout: news_item
+title: 'Jekyll 3.2.1 Released with Fix for Windows'
+date: 2016-08-02 13:20:11 -0700
+author: parkr
+version: 3.2.1
+categories: [release]
+---
+
+Well, 3.2.0 has been a success, but with one fatal flaw: it doesn't work on
+Windows! Sorry, Windows users. Hot on the trail of 3.2.0, this release
+should squash that :bug:. Sorry about that!
+
+This release also fixes an issue when using [gem-based themes](/docs/themes/)
+where the theme was rejected if it existed behind a symlink. This is a
+common setup for the various ruby version managers, and for Ruby installed
+via Homebrew. Props to @benbalter for fixing that up.
+
+Thanks to the contributors for this release: Adam Petrie, Ben Balter,
+Daniel Chapman, DirtyF, Gary Ewan Park, Jordon Bedwell, and Parker Moore.
+
+As always, you can see our full changelog on [the History page](/docs/history/).
+
+Happy Jekylling!
diff --git a/site/latest_version.txt b/site/latest_version.txt
index 944880fa..e4604e3a 100644
--- a/site/latest_version.txt
+++ b/site/latest_version.txt
@@ -1 +1 @@
-3.2.0
+3.2.1