diff --git a/packages/react-native-aztec/package.json b/packages/react-native-aztec/package.json
index b9c6c201d2e1e2..f2a1f1193eeee1 100644
--- a/packages/react-native-aztec/package.json
+++ b/packages/react-native-aztec/package.json
@@ -1,6 +1,6 @@
 {
 	"name": "@wordpress/react-native-aztec",
-	"version": "1.74.0",
+	"version": "1.74.1",
 	"description": "Aztec view for react-native.",
 	"private": true,
 	"author": "The WordPress Contributors",
diff --git a/packages/react-native-bridge/package.json b/packages/react-native-bridge/package.json
index 8bad15f531d84d..3552892c733a6a 100644
--- a/packages/react-native-bridge/package.json
+++ b/packages/react-native-bridge/package.json
@@ -1,6 +1,6 @@
 {
 	"name": "@wordpress/react-native-bridge",
-	"version": "1.74.0",
+	"version": "1.74.1",
 	"description": "Native bridge library used to integrate the block editor into a native App.",
 	"private": true,
 	"author": "The WordPress Contributors",
diff --git a/packages/react-native-editor/CHANGELOG.md b/packages/react-native-editor/CHANGELOG.md
index 2e4ea3c0d20d49..8b988cd3b6ef0b 100644
--- a/packages/react-native-editor/CHANGELOG.md
+++ b/packages/react-native-editor/CHANGELOG.md
@@ -11,6 +11,9 @@ For each user feature we should also add a importance categorization label  to i
 
 ## Unreleased
 
+## 1.74.1
+-   [**] RichText - Set a default value for selection values [#40581]
+
 ## 1.74.0
 
 -   [**] [Quote block] Adds support for V2 behind a feature flag [#40133]
diff --git a/packages/react-native-editor/ios/Podfile.lock b/packages/react-native-editor/ios/Podfile.lock
index af984348bc329f..26208cdfd96d42 100644
--- a/packages/react-native-editor/ios/Podfile.lock
+++ b/packages/react-native-editor/ios/Podfile.lock
@@ -13,7 +13,7 @@ PODS:
     - ReactCommon/turbomodule/core (= 0.66.2)
   - fmt (6.2.1)
   - glog (0.3.5)
-  - Gutenberg (1.74.0):
+  - Gutenberg (1.74.1):
     - React-Core (= 0.66.2)
     - React-CoreModules (= 0.66.2)
     - React-RCTImage (= 0.66.2)
@@ -337,7 +337,7 @@ PODS:
     - React-Core
   - RNSVG (9.13.6):
     - React-Core
-  - RNTAztecView (1.74.0):
+  - RNTAztecView (1.74.1):
     - React-Core
     - WordPress-Aztec-iOS (~> 1.19.8)
   - WordPress-Aztec-iOS (1.19.8)
@@ -503,7 +503,7 @@ SPEC CHECKSUMS:
   FBReactNativeSpec: 18438b1c04ce502ed681cd19db3f4508964c082a
   fmt: ff9d55029c625d3757ed641535fd4a75fedc7ce9
   glog: 5337263514dd6f09803962437687240c5dc39aa4
-  Gutenberg: 8e55e08e92da50d241c7fabd2f47493e23d162f3
+  Gutenberg: f1a8cfc8edf0620a6cf17a6507b7586987a2181e
   RCT-Folly: a21c126816d8025b547704b777a2ba552f3d9fa9
   RCTRequired: 5e9e85f48da8dd447f5834ce14c6799ea8c7f41a
   RCTTypeSafety: aba333d04d88d1f954e93666a08d7ae57a87ab30
@@ -542,7 +542,7 @@ SPEC CHECKSUMS:
   RNReanimated: ae78e43201015a3fb2982a6e3ffe3507ee7f2d81
   RNScreens: 953633729a42e23ad0c93574d676b361e3335e8b
   RNSVG: 36a7359c428dcb7c6bce1cc546fbfebe069809b0
-  RNTAztecView: 4fa47e139b3f2d71d8e8f5f693e3e95793fb36d9
+  RNTAztecView: 7bc85203789ddcbcd5c74e421ad9cb005eece281
   WordPress-Aztec-iOS: 7d11d598f14c82c727c08b56bd35fbeb7dafb504
   Yoga: 9a08effa851c1d8cc1647691895540bc168ea65f
 
diff --git a/packages/react-native-editor/package.json b/packages/react-native-editor/package.json
index 74f1841dad22b6..05355623202539 100644
--- a/packages/react-native-editor/package.json
+++ b/packages/react-native-editor/package.json
@@ -1,6 +1,6 @@
 {
 	"name": "@wordpress/react-native-editor",
-	"version": "1.74.0",
+	"version": "1.74.1",
 	"description": "Mobile WordPress gutenberg editor.",
 	"author": "The WordPress Contributors",
 	"license": "GPL-2.0-or-later",