diff --git a/cmd/version.go b/cmd/version.go
index af2287e..8520c37 100644
--- a/cmd/version.go
+++ b/cmd/version.go
@@ -24,7 +24,7 @@ import (
 
 // ReleaseVersion is the release version of the codebase.
 // Usually overridden by tag names when building binaries.
-var ReleaseVersion = "local build (latest release 1.37.4)"
+var ReleaseVersion = "local build (latest release 1.38.0)"
 
 // versionCmd represents the version command.
 var versionCmd = &cobra.Command{