diff --git a/Cargo.lock b/Cargo.lock
index 725137870f..3997fc6cb8 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1058,23 +1058,24 @@ checksum = "dcb25d077389e53838a8158c8e99174c5a9d902dee4904320db714f3c653ffba"
 
 [[package]]
 name = "cranelift-bforest"
-version = "0.84.0"
+version = "0.85.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2fa7c3188913c2d11a361e0431e135742372a2709a99b103e79758e11a0a797e"
+checksum = "7901fbba05decc537080b07cb3f1cadf53be7b7602ca8255786288a8692ae29a"
 dependencies = [
  "cranelift-entity",
 ]
 
 [[package]]
 name = "cranelift-codegen"
-version = "0.84.0"
+version = "0.85.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "29285f70fd396a8f64455a15a6e1d390322e4a5f5186de513141313211b0a23e"
+checksum = "37ba1b45d243a4a28e12d26cd5f2507da74e77c45927d40de8b6ffbf088b46b5"
 dependencies = [
  "cranelift-bforest",
  "cranelift-codegen-meta",
  "cranelift-codegen-shared",
  "cranelift-entity",
+ "cranelift-isle",
  "gimli",
  "log",
  "regalloc2",
@@ -1084,33 +1085,33 @@ dependencies = [
 
 [[package]]
 name = "cranelift-codegen-meta"
-version = "0.84.0"
+version = "0.85.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "057eac2f202ec95aebfd8d495e88560ac085f6a415b3c6c28529dc5eb116a141"
+checksum = "54cc30032171bf230ce22b99c07c3a1de1221cb5375bd6dbe6dbe77d0eed743c"
 dependencies = [
  "cranelift-codegen-shared",
 ]
 
 [[package]]
 name = "cranelift-codegen-shared"
-version = "0.84.0"
+version = "0.85.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "75d93869efd18874a9341cfd8ad66bcb08164e86357a694a0e939d29e87410b9"
+checksum = "a23f2672426d2bb4c9c3ef53e023076cfc4d8922f0eeaebaf372c92fae8b5c69"
 
 [[package]]
 name = "cranelift-entity"
-version = "0.84.0"
+version = "0.85.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7e34bd7a1fefa902c90a921b36323f17a398b788fa56a75f07a29d83b6e28808"
+checksum = "886c59a5e0de1f06dbb7da80db149c75de10d5e2caca07cdd9fef8a5918a6336"
 dependencies = [
  "serde",
 ]
 
 [[package]]
 name = "cranelift-frontend"
-version = "0.84.0"
+version = "0.85.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "457018dd2d6ee300953978f63215b5edf3ae42dbdf8c7c038972f10394599f72"
+checksum = "ace74eeca11c439a9d4ed1a5cb9df31a54cd0f7fbddf82c8ce4ea8e9ad2a8fe0"
 dependencies = [
  "cranelift-codegen",
  "log",
@@ -1118,11 +1119,17 @@ dependencies = [
  "target-lexicon",
 ]
 
+[[package]]
+name = "cranelift-isle"
+version = "0.85.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "db1ae52a5cc2cad0d86fdd3dcb16b7217d2f1e65ab4f5814aa4f014ad335fa43"
+
 [[package]]
 name = "cranelift-native"
-version = "0.84.0"
+version = "0.85.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "bba027cc41bf1d0eee2ddf16caba2ee1be682d0214520fff0129d2c6557fda89"
+checksum = "dadcfb7852900780d37102bce5698bcd401736403f07b52e714ff7a180e0e22f"
 dependencies = [
  "cranelift-codegen",
  "libc",
@@ -1131,9 +1138,9 @@ dependencies = [
 
 [[package]]
 name = "cranelift-wasm"
-version = "0.84.0"
+version = "0.85.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9b17639ced10b9916c9be120d38c872ea4f9888aa09248568b10056ef0559bfa"
+checksum = "c84e3410960389110b88f97776f39f6d2c8becdaa4cd59e390e6b76d9d0e7190"
 dependencies = [
  "cranelift-codegen",
  "cranelift-entity",
@@ -4560,9 +4567,9 @@ dependencies = [
 
 [[package]]
 name = "regalloc2"
-version = "0.1.3"
+version = "0.2.3"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "904196c12c9f55d3aea578613219f493ced8e05b3d0c6a42d11cb4142d8b4879"
+checksum = "4a8d23b35d7177df3b9d31ed8a9ab4bf625c668be77a319d4f5efd4a5257701c"
 dependencies = [
  "fxhash",
  "log",
@@ -5851,9 +5858,9 @@ checksum = "9c8d87e72b64a3b4db28d11ce29237c246188f4f51057d65a7eab63b7987e423"
 
 [[package]]
 name = "wasi-cap-std-sync"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1029972e08194fe0ca67a83221945fff9d6d1b0dd8b752c6073b45d0254ac71b"
+checksum = "c1c4e73ed64b92ae87b416f4274b3c827180b02b67f835f66a86fc4267b77349"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -5875,9 +5882,9 @@ dependencies = [
 
 [[package]]
 name = "wasi-common"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "396cc8d920f924474f589f6a2202ad9783579ef12f96e6b675d0b2f3917c7126"
+checksum = "cc983eb93607a61f64152ec8728bf453f4dfdf22e7ab1784faac3297fe9a035e"
 dependencies = [
  "anyhow",
  "bitflags",
@@ -5992,18 +5999,18 @@ dependencies = [
 
 [[package]]
 name = "wasmparser"
-version = "0.84.0"
+version = "0.85.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "77dc97c22bb5ce49a47b745bed8812d30206eff5ef3af31424f2c1820c0974b2"
+checksum = "570460c58b21e9150d2df0eaaedbb7816c34bcec009ae0dcc976e40ba81463e7"
 dependencies = [
  "indexmap",
 ]
 
 [[package]]
 name = "wasmtime"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "dfdd1101bdfa0414a19018ec0a091951a20b695d4d04f858d49f6c4cc53cd8dd"
+checksum = "e76e2b2833bb0ece666ccdbed7b71b617d447da11f1bb61f4f2bab2648f745ee"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -6035,9 +6042,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-cache"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "79da81ed0724392948ad7a0fb5088ff1bd15fa937356c8c037c6b1c8b5473cde"
+checksum = "743a9f142d93318262d7e1fe329394ff2e8f86a1df45ae5e4f0eedba215ca5ce"
 dependencies = [
  "anyhow",
  "base64",
@@ -6055,9 +6062,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-cranelift"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "16e78edcfb0daa9a9579ac379d00e2d5a5b2a60c0d653c8c95e8412f2166acb9"
+checksum = "5dc0f80afa1ce97083a7168e6b6948d015d6237369e9f4a511d38c9c4ac8fbb9"
 dependencies = [
  "anyhow",
  "cranelift-codegen",
@@ -6077,9 +6084,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-environ"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4201389132ec467981980549574b33fc70d493b40f2c045c8ce5c7b54fbad97e"
+checksum = "0816d9365196f1f447060087e0f87239ccded830bd54970a1168b0c9c8e824c9"
 dependencies = [
  "anyhow",
  "cranelift-entity",
@@ -6097,9 +6104,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-fiber"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9ba6777a84b44f9a384b5c9d511ae3d86534438b7e25d928b8e8e858ecad5df2"
+checksum = "715afdb87a3bcf1eae3f098c742d650fb783abdb8a7ca87076ea1cabecabea5d"
 dependencies = [
  "cc",
  "rustix",
@@ -6108,9 +6115,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-jit"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1587ca7752d00862faa540d00fd28e5ccf1ac61ba19756449193f1153cb2b127"
+checksum = "5c687f33cfa0f89ec1646929d0ff102087052cf9f0d15533de56526b0da0d1b3"
 dependencies = [
  "addr2line",
  "anyhow",
@@ -6135,9 +6142,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-jit-debug"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b27233ab6c8934b23171c64f215f902ef19d18c1712b46a0674286d1ef28d5dd"
+checksum = "b252d1d025f94f3954ba2111f12f3a22826a0764a11c150c2d46623115a69e27"
 dependencies = [
  "lazy_static",
  "object",
@@ -6146,9 +6153,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-runtime"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "47d3b0b8f13db47db59d616e498fe45295819d04a55f9921af29561827bdb816"
+checksum = "ace251693103c9facbbd7df87a29a75e68016e48bc83c09133f2fda6b575e0ab"
 dependencies = [
  "anyhow",
  "backtrace",
@@ -6173,9 +6180,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-types"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "1630d9dca185299bec7f557a7e73b28742fe5590caf19df001422282a0a98ad1"
+checksum = "d129b0487a95986692af8708ffde9c50b0568dcefd79200941d475713b4f40bb"
 dependencies = [
  "cranelift-entity",
  "serde",
@@ -6185,9 +6192,9 @@ dependencies = [
 
 [[package]]
 name = "wasmtime-wasi"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0d507b07263a4923440da662c611affc2e671714bb6e5f68f6b068a5736bcd7f"
+checksum = "fb49791530b3a3375897a6d5a8bfa9914101ef8a672d01c951e70b46fd953c15"
 dependencies = [
  "anyhow",
  "wasi-cap-std-sync",
@@ -6258,9 +6265,9 @@ dependencies = [
 
 [[package]]
 name = "wiggle"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "799e618e90d9f3d6d76943d9f2903c609b62f2ab5d16dedcff4816d38db726dd"
+checksum = "91c38020359fabec5e5ce5a3f667af72e9a203bc6fe8caeb8931d3a870754d9d"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -6273,9 +6280,9 @@ dependencies = [
 
 [[package]]
 name = "wiggle-generate"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "534d70579cd9aca243e94eeb14a348dbc9ae87e7758ffebfdd4bb4a98d59b9b0"
+checksum = "adc4e4420b496b04920ae3e41424029aba95c15a5e2e2b4012d14ec83770a3ef"
 dependencies = [
  "anyhow",
  "heck 0.4.0",
@@ -6288,9 +6295,9 @@ dependencies = [
 
 [[package]]
 name = "wiggle-macro"
-version = "0.37.0"
+version = "0.38.1"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "87216b1f58eeee44a6385de39e8c03190c209942cfa34344c9ba69426f146d8d"
+checksum = "2e541a0be1f2c4d53471d8a9df81c2d8725a3f023d8259f555c65b03d515aaab"
 dependencies = [
  "proc-macro2",
  "quote",
diff --git a/crates/fluvio-smartengine/Cargo.toml b/crates/fluvio-smartengine/Cargo.toml
index a66f8bc3ee..bbcacd37ed 100644
--- a/crates/fluvio-smartengine/Cargo.toml
+++ b/crates/fluvio-smartengine/Cargo.toml
@@ -16,8 +16,8 @@ smartmodule = ["fluvio-controlplane-metadata", "flate2"]
 wasi = ["wasmtime-wasi"]
 
 [dependencies]
-wasmtime = "0.37.0"
-wasmtime-wasi = {version="0.37.0", optional = true}
+wasmtime = "0.38.1"
+wasmtime-wasi = {version="0.38.1", optional = true}
 nix = "0.24"
 tracing = "0.1.27"
 anyhow = "1.0.38"