A method, device and computer program product for managing data versions. The method includes: (i) receiving a first request to generate a first version of a source volume; (ii) selectively updating a first control data structure that is indicative of changes of blocks of data associated with different versions of the source volume, in response to the first request, to reflect at least one latest modified block of data that was modified between a first point in time associated with the first version and between second point in time associated with a second version of the first source volume; wherein information representative of different versions of the source volume are stored in a target storage unit; and wherein blocks of data that remain unchanged between multiple versions of the source volume are shared between these multiple versions; wherein the first point in time follows the second point in time and wherein the at least one block data belongs to the volume; and (iii) selectively copying blocks of data from the source volume to the target volume in response to the content of the first control data structure.