I have heard of the BIPs and how important functions like
OP_CHECKLOCKTIMEVERIFY and features such as HD-wallets were defined by them. Where could I read about the EIPs and how do I stay upto date?
The best place to stay relatively up to do is eips.ethereum.org, which is built directly from the EIPs github repo. This shows all EIPs that have been merged to the repo including drafts/finalized EIPs. If you want to go even further, you can checkout pull requests and issues on the repo github.com/ethereum/EIPs/
An Ethereum Improvement Proposal (EIP) is a design document for introducing features, improvements or standards to the Ethereum platform. EIPs are the primary mechanism for proposing changes to the Ethereum network. They are used to gather community input on a proposed change, document broad consensus on an issue, and act as a source of information for developing implementations. In Web3, an EIP is used as a way to request changes to the Ethereum protocol, such as an increase in the gas limit, a reduction in block times, or the introduction of new features.