diff --git a/pkgs/development/interpreters/wasmtime/default.nix b/pkgs/development/interpreters/wasmtime/default.nix
index 47bdaf862362..508dc2be60b9 100644
--- a/pkgs/development/interpreters/wasmtime/default.nix
+++ b/pkgs/development/interpreters/wasmtime/default.nix
@@ -1,42 +1,34 @@
-{ rustPlatform, fetchFromGitHub, lib, stdenv, v8 }:
+{ rustPlatform, fetchFromGitHub, lib }:
 
 rustPlatform.buildRustPackage rec {
   pname = "wasmtime";
-  version = "0.37.0";
+  version = "0.38.0";
 
   src = fetchFromGitHub {
     owner = "bytecodealliance";
     repo = pname;
     rev = "v${version}";
-    sha256 = "sha256-ZUr1v94If8ER4lTHLwuP+F3xfXU7IW4ZEztBA2TPvVg=";
+    sha256 = "sha256-q+6w22MbI3HRpmkybZXXWbkK7jbd6lyxodC3EpSovRI=";
     fetchSubmodules = true;
   };
 
-  cargoSha256 = "sha256-X+KDeWavFTBaxbSPlIiyuiBC7wg1/5C/NXp+VEY8Mk8=";
-
-  # This environment variable is required so that when wasmtime tries
-  # to run tests by using the rusty_v8 crate, it does not try to
-  # download a static v8 build from the Internet, what would break
-  # build hermetism.
-  RUSTY_V8_ARCHIVE = lib.optionalString stdenv.isLinux "${v8}/lib/libv8.a";
+  cargoSha256 = "sha256-uuhGb0/RDz1/3O8WYiyGIUQFh0WZWJgujqtvH+hgbdA=";
 
   doCheck = true;
   checkFlags = [
     "--skip=cli_tests::run_cwasm"
-    "--skip=commands::compile::test::test_successful_compile"
     "--skip=commands::compile::test::test_aarch64_flags_compile"
-    "--skip=commands::compile::test::test_unsupported_flags_compile"
+    "--skip=commands::compile::test::test_successful_compile"
     "--skip=commands::compile::test::test_x64_flags_compile"
     "--skip=commands::compile::test::test_x64_presets_compile"
     "--skip=traps::parse_dwarf_info"
   ];
 
   meta = with lib; {
-    broken = stdenv.isDarwin;
     description = "Standalone JIT-style runtime for WebAssembly, using Cranelift";
     homepage = "https://github.com/bytecodealliance/wasmtime";
     license = licenses.asl20;
-    maintainers = [ maintainers.matthewbauer ];
+    maintainers = with maintainers; [ ereslibre matthewbauer ];
     platforms = platforms.unix;
   };
 }