diff --git a/templates/Makefile b/templates/Makefile
index efe30b3886..68f23591b4 100644
--- a/templates/Makefile
+++ b/templates/Makefile
@@ -17,7 +17,7 @@ bump-go-versions:
 bump-rust-versions:
 	for dir in $$(ls -d *-rust) ; do \
 		cd $$dir/content ; \
-		sed -r -i.sed-bak -e 's%(spin-sdk = )(("[0-9]+.[0-9]+.[0-9]+(-rc.[0-9]+)?")|(\{ git = "https://github.com/fermyon/spin", branch = "main" \}))%spin-sdk = "${CRATES_IO_VERSION}"%g' Cargo.toml ; \
+		sed -r -i.sed-bak -e 's%(spin-sdk = )(("[0-9]+.[0-9]+.[0-9]+(-rc.[0-9]+)?")|(\{ git = "https://github.com/fermyon/spin", branch = "main" \}))%spin-sdk = "${CRATES_IO_VERSION}"%g' Cargo.toml.tmpl ; \
 		rm *.sed-bak ; \
 		cd - 2>&1 >/dev/null ; \
-	done
\ No newline at end of file
+	done
diff --git a/templates/http-rust/content/Cargo.toml.tmpl b/templates/http-rust/content/Cargo.toml.tmpl
index 33e63b5455..d55a3190e2 100644
--- a/templates/http-rust/content/Cargo.toml.tmpl
+++ b/templates/http-rust/content/Cargo.toml.tmpl
@@ -10,6 +10,6 @@ crate-type = ["cdylib"]
 
 [dependencies]
 anyhow = "1"
-spin-sdk = "3.0.1"
+spin-sdk = "3.1.0"
 
 [workspace]
diff --git a/templates/redis-rust/content/Cargo.toml.tmpl b/templates/redis-rust/content/Cargo.toml.tmpl
index cca0ef197c..d25db80bf6 100644
--- a/templates/redis-rust/content/Cargo.toml.tmpl
+++ b/templates/redis-rust/content/Cargo.toml.tmpl
@@ -14,6 +14,6 @@ anyhow = "1"
 # Crate to simplify working with bytes.
 bytes = "1"
 # The Spin SDK.
-spin-sdk = "3.0.1"
+spin-sdk = "3.1.0"
 
 [workspace]