diff --git a/lbry/lbry/__init__.py b/lbry/lbry/__init__.py
index 8273851ae..d3a928fb3 100644
--- a/lbry/lbry/__init__.py
+++ b/lbry/lbry/__init__.py
@@ -1,4 +1,4 @@
 __name__ = "lbry"
-__version__ = "0.38.0"
+__version__ = "0.38.1rc1"
 version = tuple(__version__.split('.'))