diff --git a/pkgs/by-name/su/subxt/package.nix b/pkgs/by-name/su/subxt/package.nix
index 40fbd86b5927..80bcc27a890e 100644
--- a/pkgs/by-name/su/subxt/package.nix
+++ b/pkgs/by-name/su/subxt/package.nix
@@ -8,16 +8,16 @@
 
 rustPlatform.buildRustPackage rec {
   pname = "subxt";
-  version = "0.37.1";
+  version = "0.38.0";
 
   src = fetchFromGitHub {
     owner = "paritytech";
     repo = "subxt";
     rev = "v${version}";
-    hash = "sha256-lCDjqvdjiQktyFAp3KuFHehwapd3BiLxMSLsNK+wDDo=";
+    hash = "sha256-mUW1foT3JkpsnieJutL+GZZXiTcRUklnjfoaWcH8ccE=";
   };
 
-  cargoHash = "sha256-RmeV2EYHGbMMAeerQkHcYav+RIVY68Tj66zjcFgjUfQ=";
+  cargoHash = "sha256-+psdikles6ICg2eSBGxJoiG5EZG8voR2fs6PGnOWvDc=";
 
   # Only build the command line client
   cargoBuildFlags = [ "--bin" "subxt" ];