diff --git a/crates/ibc/Cargo.toml b/crates/ibc/Cargo.toml
index ae4d4d56b..71aa62624 100644
--- a/crates/ibc/Cargo.toml
+++ b/crates/ibc/Cargo.toml
@@ -50,7 +50,7 @@ mocks = ["tendermint-testgen", "parking_lot", "typed-builder", "std"]
 
 [dependencies]
 # Proto definitions for all IBC-related interfaces, e.g., connections or channels.
-ibc-proto = { version = "0.37.1", default-features = false }
+ibc-proto = { version = "0.38.0", default-features = false }
 ics23 = { version = "0.11", default-features = false, features = ["host-functions"] }
 time = { version = ">=0.3.0, <0.3.31", default-features = false }
 serde_derive = { version = "1.0.104", default-features = false, optional = true }