diff --git a/.mergify.yml b/.mergify.yml
index d57b03665e22..9d8b39602444 100644
--- a/.mergify.yml
+++ b/.mergify.yml
@@ -6,4 +6,4 @@ pull_request_rules:
     actions:
       backport:
         branches:
-          - stable/2.3
+          - stable/2.4
diff --git a/Cargo.lock b/Cargo.lock
index bab628f92483..23fa170c7b26 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -2021,7 +2021,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-accelerate"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "approx",
  "hashbrown 0.15.5",
@@ -2046,7 +2046,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-bindgen"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "anyhow",
  "cbindgen",
@@ -2054,7 +2054,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-bindgen-c"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "anyhow",
  "clap",
@@ -2063,7 +2063,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-cext"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "ahash 0.8.12",
  "anyhow",
@@ -2085,14 +2085,14 @@ dependencies = [
 
 [[package]]
 name = "qiskit-cext-vtable"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "qiskit-cext",
 ]
 
 [[package]]
 name = "qiskit-circuit"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "ahash 0.8.12",
  "approx",
@@ -2123,7 +2123,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-circuit-library"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "hashbrown 0.15.5",
  "itertools 0.14.0",
@@ -2146,7 +2146,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-pyext"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "anyhow",
  "cbindgen",
@@ -2168,7 +2168,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-qasm2"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "hashbrown 0.15.5",
  "num-bigint",
@@ -2178,7 +2178,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-qasm3"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "ahash 0.8.12",
  "hashbrown 0.15.5",
@@ -2194,7 +2194,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-qpy"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "ahash 0.8.12",
  "binrw",
@@ -2215,7 +2215,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-quantum-info"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "ahash 0.8.12",
  "approx",
@@ -2242,7 +2242,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-synthesis"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "ahash 0.8.12",
  "approx",
@@ -2275,7 +2275,7 @@ dependencies = [
 
 [[package]]
 name = "qiskit-transpiler"
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 dependencies = [
  "ahash 0.8.12",
  "anyhow",
diff --git a/Cargo.toml b/Cargo.toml
index 8354455cbc09..33b4e11f1d0d 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -3,7 +3,7 @@ members = ["crates/*"]
 resolver = "2"
 
 [workspace.package]
-version = "2.4.0-rc1"
+version = "2.5.0-dev"
 edition = "2024"
 rust-version = "1.85"  # Keep in sync with README.md, rust-toolchain.toml, and tools/install_rust_msrv.sh
 license = "Apache-2.0"
diff --git a/crates/bindgen/include/qiskit/version.h b/crates/bindgen/include/qiskit/version.h
index 2ee95c74f93b..a79bde6bc0ba 100644
--- a/crates/bindgen/include/qiskit/version.h
+++ b/crates/bindgen/include/qiskit/version.h
@@ -19,13 +19,13 @@
 #define QISKIT_RELEASE_LEVEL_FINAL 0xF
 
 #define QISKIT_VERSION_MAJOR 2
-#define QISKIT_VERSION_MINOR 4
+#define QISKIT_VERSION_MINOR 5
 #define QISKIT_VERSION_PATCH 0
-#define QISKIT_RELEASE_LEVEL QISKIT_RELEASE_LEVEL_RC
+#define QISKIT_RELEASE_LEVEL QISKIT_RELEASE_LEVEL_DEV
 // For the final release, set the below to 0.
-#define QISKIT_RELEASE_SERIAL 1
+#define QISKIT_RELEASE_SERIAL 0
 
-#define QISKIT_VERSION "2.4.0-rc1"
+#define QISKIT_VERSION "2.5.0-dev"
 
 #define QISKIT_GET_VERSION_HEX(major, minor, patch, level, serial)                                 \
     (((major) & 0xff) << 24 | ((minor) & 0xff) << 16 | ((patch) & 0xff) << 8 |                     \
diff --git a/docs/release_notes.rst b/docs/release_notes.rst
index 2e9d2f048ca1..de6230014766 100644
--- a/docs/release_notes.rst
+++ b/docs/release_notes.rst
@@ -21,4 +21,4 @@ Qiskit |version| release notes
       though, which is typically `rc1` tags.
 
 .. release-notes::
-   :earliest-version: 2.3.0rc1
+   :earliest-version: 2.4.0rc1
diff --git a/qiskit/VERSION.txt b/qiskit/VERSION.txt
index 2eca1561ee5d..ece4f82d953f 100644
--- a/qiskit/VERSION.txt
+++ b/qiskit/VERSION.txt
@@ -1 +1 @@
-2.4.0rc1
+2.5.0.dev0