diff --git a/.changelog/unreleased/api-breaking/2137-bank-scope-value-owners.md b/.changelog/unreleased/api-breaking/2137-bank-scope-value-owners.md
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+* The `Ownership` query in the `x/metadata` module now only returns scopes that have the provided address in the `owners` list [#2137](https://github.com/provenance-io/provenance/issues/2137).
+  Previously, if an address was the value owner of a scope, but not in the `owners` list, the scope would be returned
+  by the `Ownership` query when given that address.  That is no longer the case.
+  The `ValueOwnership` query can be to identify scopes with a specific value owner (like before).
+  If a scope has a value owner that is also in its `owners` list, it will still be returned by both queries.
+* The `WriteScope` endpoint now uses the `scope.value_owner_address` differently [#2137](https://github.com/provenance-io/provenance/issues/2137).
+  If it is empty, it indicates that there is no change to the value owner of the scope and the releated lookups and validation
+  are skipped. If it isn't empty, the current value owner will be looked up and the coin for the scope will be transferred to
+  the provided address (assuming signer validation passed).
+* An authz grant on `MsgWriteScope` no longer also applies to the `UpdateValueOwners` or `MigrateValueOwner` endpoints [#2137](https://github.com/provenance-io/provenance/issues/2137).
diff --git a/.changelog/unreleased/improvements/2137-bank-scope-value-owners.md b/.changelog/unreleased/improvements/2137-bank-scope-value-owners.md
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+* Use the bank module to keep track of the value owner of scopes. [#2137](https://github.com/provenance-io/provenance/issues/2137).