diff --git a/CHANGELOG.md b/CHANGELOG.md
index 4cfbbac3e..035fa837e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,6 +6,10 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [10.21.1]
+### Changed
+- Improve rate limiting for metric events ([#16308](https://github.com/MetaMask/metamask-extension/pull/16308))
+
 ## [10.21.0]
 ### Added
 - Add functionality for buying native currency and tokens on Optimism and Arbitrum, using Transak ([#16031](https://github.com/MetaMask/metamask-extension/pull/16031))
@@ -3249,7 +3253,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 ### Uncategorized
 - Added the ability to restore accounts from seed words.
 
-[Unreleased]: https://github.com/MetaMask/metamask-extension/compare/v10.21.0...HEAD
+[Unreleased]: https://github.com/MetaMask/metamask-extension/compare/v10.21.1...HEAD
+[10.21.1]: https://github.com/MetaMask/metamask-extension/compare/v10.21.0...v10.21.1
 [10.21.0]: https://github.com/MetaMask/metamask-extension/compare/v10.20.0...v10.21.0
 [10.20.0]: https://github.com/MetaMask/metamask-extension/compare/v10.19.0...v10.20.0
 [10.19.0]: https://github.com/MetaMask/metamask-extension/compare/v10.18.4...v10.19.0
diff --git a/app/scripts/lib/createRPCMethodTrackingMiddleware.js b/app/scripts/lib/createRPCMethodTrackingMiddleware.js
index 3362e29ad..8829bf5e2 100644
--- a/app/scripts/lib/createRPCMethodTrackingMiddleware.js
+++ b/app/scripts/lib/createRPCMethodTrackingMiddleware.js
@@ -104,7 +104,7 @@ const rateLimitTimeouts = {};
 export default function createRPCMethodTrackingMiddleware({
   trackEvent,
   getMetricsState,
-  rateLimitSeconds = 60,
+  rateLimitSeconds = 60 * 5,
 }) {
   return function rpcMethodTrackingMiddleware(
     /** @type {any} */ req,
diff --git a/package.json b/package.json
index ba1dd5f39..dcc6805e3 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "metamask-crx",
-  "version": "10.21.0",
+  "version": "10.21.1",
   "private": true,
   "repository": {
     "type": "git",