diff --git a/CHANGELOG.md b/CHANGELOG.md
index 28987bcc2..aa9629a85 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,7 +1,7 @@
 # 0.38.1
 
 - Align with current substrate master for sr25519 keys and hard/soft derivation
-- Swap default keyring to sr25519
+- Swap default dev keys to derived (sr25519)
 
 # 0.37.1
 
diff --git a/lerna.json b/lerna.json
index ca45a0cf3..10a0d721e 100644
--- a/lerna.json
+++ b/lerna.json
@@ -9,5 +9,5 @@
   "packages": [
     "packages/*"
   ],
-  "version": "0.38.0-beta.5"
+  "version": "0.38.0"
 }
diff --git a/packages/chainspec/package.json b/packages/chainspec/package.json
index f7fd5ab3c..b426bf493 100644
--- a/packages/chainspec/package.json
+++ b/packages/chainspec/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@polkadot/chainspec",
-  "version": "0.38.0-beta.5",
+  "version": "0.38.0",
   "description": "Contains chain specifications for known chains",
   "main": "index.js",
   "keywords": [
@@ -29,6 +29,6 @@
   "homepage": "https://github.com/polkadot-js/common/tree/master/packages/chainspec#readme",
   "dependencies": {
     "@babel/runtime": "^7.3.4",
-    "@polkadot/util": "^0.38.0-beta.5"
+    "@polkadot/util": "^0.38.0"
   }
 }
diff --git a/packages/db/package.json b/packages/db/package.json
index 727802328..28cf77432 100644
--- a/packages/db/package.json
+++ b/packages/db/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@polkadot/db",
-  "version": "0.38.0-beta.5",
+  "version": "0.38.0",
   "description": "Implementation of a basic sync in-memory and on-disk databases with overlays",
   "main": "index.js",
   "keywords": [
@@ -29,8 +29,8 @@
   "homepage": "https://github.com/polkadot-js/common/tree/master/packages/db#readme",
   "dependencies": {
     "@babel/runtime": "^7.3.4",
-    "@polkadot/trie-hash": "^0.38.0-beta.5",
-    "@polkadot/util": "^0.38.0-beta.5",
+    "@polkadot/trie-hash": "^0.38.0",
+    "@polkadot/util": "^0.38.0",
     "@types/mkdirp": "^0.5.2",
     "@types/rimraf": "^2.0.2",
     "@types/snappy": "^6.0.0",
diff --git a/packages/keyring/package.json b/packages/keyring/package.json
index 9b8a8b334..bdeb19a20 100644
--- a/packages/keyring/package.json
+++ b/packages/keyring/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@polkadot/keyring",
-  "version": "0.38.0-beta.5",
+  "version": "0.38.0",
   "description": "Keyring management",
   "main": "index.js",
   "engines": {
@@ -31,8 +31,8 @@
   "homepage": "https://github.com/polkadot-js/common/tree/master/packages/keyring#readme",
   "dependencies": {
     "@babel/runtime": "^7.3.4",
-    "@polkadot/util": "^0.38.0-beta.5",
-    "@polkadot/util-crypto": "^0.38.0-beta.5",
+    "@polkadot/util": "^0.38.0",
+    "@polkadot/util-crypto": "^0.38.0",
     "@types/bs58": "^4.0.0",
     "bs58": "^4.0.1"
   }
diff --git a/packages/keyring/src/index.ts b/packages/keyring/src/index.ts
index d1fafe1dc..904904acf 100644
--- a/packages/keyring/src/index.ts
+++ b/packages/keyring/src/index.ts
@@ -33,7 +33,7 @@ export default class Keyring implements KeyringInstance {
   private _type: KeypairType;
 
   constructor (options: KeyringOptions = {}) {
-    options.type = options.type || 'sr25519';
+    options.type = options.type || 'ed25519';
 
     assert(options && ['ed25519', 'sr25519'].includes(options.type || 'undefined'), `Expected a keyring type of either 'ed25519' or 'sr25519', found '${options.type}`);
 
diff --git a/packages/keyring/src/testing.ts b/packages/keyring/src/testing.ts
index 62edcc743..3434c7d3e 100644
--- a/packages/keyring/src/testing.ts
+++ b/packages/keyring/src/testing.ts
@@ -51,8 +51,6 @@ const PAIRS = [
  * are available on the dev chain and each test account is initialised with DOT funds.
  */
 export default function testKeyring (options: KeyringOptions = {}, isDerived: boolean = true): KeyringInstance {
-  options.type = options.type || (isDerived ? 'sr25519' : 'ed25519');
-
   const keyring = new Keyring(options);
 
   SEEDS.forEach((entry, index) => {
diff --git a/packages/trie-codec/package.json b/packages/trie-codec/package.json
index 1c64efadd..426fbfaad 100644
--- a/packages/trie-codec/package.json
+++ b/packages/trie-codec/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@polkadot/trie-codec",
-  "version": "0.38.0-beta.5",
+  "version": "0.38.0",
   "description": "This is an implementation of the codec for Substrate Trie",
   "main": "index.js",
   "keywords": [
@@ -29,6 +29,6 @@
   "homepage": "https://github.com/polkadot-js/common/tree/master/packages/trie-codec#readme",
   "dependencies": {
     "@babel/runtime": "^7.3.4",
-    "@polkadot/util": "^0.38.0-beta.5"
+    "@polkadot/util": "^0.38.0"
   }
 }
diff --git a/packages/trie-db/package.json b/packages/trie-db/package.json
index f496d0702..72b58bf1c 100644
--- a/packages/trie-db/package.json
+++ b/packages/trie-db/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@polkadot/trie-db",
-  "version": "0.38.0-beta.5",
+  "version": "0.38.0",
   "description": "This is an implementation of the modified merkle patricia tree as specified in Ethereum's yellow paper, adapted for Polkadot",
   "main": "index.js",
   "keywords": [
@@ -29,15 +29,15 @@
   "homepage": "https://github.com/polkadot-js/common/tree/master/packages/trie-db#readme",
   "dependencies": {
     "@babel/runtime": "^7.3.4",
-    "@polkadot/db": "^0.38.0-beta.5",
-    "@polkadot/trie-codec": "^0.38.0-beta.5",
-    "@polkadot/trie-hash": "^0.38.0-beta.5",
-    "@polkadot/util": "^0.38.0-beta.5",
-    "@polkadot/util-crypto": "^0.38.0-beta.5"
+    "@polkadot/db": "^0.38.0",
+    "@polkadot/trie-codec": "^0.38.0",
+    "@polkadot/trie-hash": "^0.38.0",
+    "@polkadot/util": "^0.38.0",
+    "@polkadot/util-crypto": "^0.38.0"
   },
   "devDependencies": {
-    "@polkadot/chainspec": "^0.38.0-beta.5",
-    "@polkadot/util-rlp": "^0.38.0-beta.5",
+    "@polkadot/chainspec": "^0.38.0",
+    "@polkadot/util-rlp": "^0.38.0",
     "ethereumjs-testing": "1.0.4"
   }
 }
diff --git a/packages/trie-hash/package.json b/packages/trie-hash/package.json
index 2090ddf5a..123a77859 100644
--- a/packages/trie-hash/package.json
+++ b/packages/trie-hash/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@polkadot/trie-hash",
-  "version": "0.38.0-beta.5",
+  "version": "0.38.0",
   "description": "Generates trie roots from key-value pairs",
   "main": "index.js",
   "keywords": [
@@ -29,9 +29,9 @@
   "homepage": "https://github.com/polkadot-js/common/tree/master/packages/trie-hash#readme",
   "dependencies": {
     "@babel/runtime": "^7.3.4",
-    "@polkadot/util": "^0.38.0-beta.5"
+    "@polkadot/util": "^0.38.0"
   },
   "devDependencies": {
-    "@polkadot/chainspec": "^0.38.0-beta.5"
+    "@polkadot/chainspec": "^0.38.0"
   }
 }
diff --git a/packages/util-crypto/package.json b/packages/util-crypto/package.json
index 1126bebbb..f3cb6d456 100644
--- a/packages/util-crypto/package.json
+++ b/packages/util-crypto/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@polkadot/util-crypto",
-  "version": "0.38.0-beta.5",
+  "version": "0.38.0",
   "description": "A collection of useful crypto utilities for @polkadot",
   "main": "index.js",
   "keywords": [
@@ -29,7 +29,7 @@
   "homepage": "https://github.com/polkadot-js/common/tree/master/packages/util-crypto#readme",
   "dependencies": {
     "@babel/runtime": "^7.3.4",
-    "@polkadot/util": "^0.38.0-beta.5",
+    "@polkadot/util": "^0.38.0",
     "@polkadot/wasm-schnorrkel": "^0.1.1",
     "@types/bip39": "^2.4.2",
     "@types/pbkdf2": "^3.0.0",
diff --git a/packages/util-rlp/package.json b/packages/util-rlp/package.json
index a5bfebb43..838318437 100644
--- a/packages/util-rlp/package.json
+++ b/packages/util-rlp/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@polkadot/util-rlp",
-  "version": "0.38.0-beta.5",
+  "version": "0.38.0",
   "description": "RLP encoding and decoding",
   "main": "index.js",
   "keywords": [
@@ -31,7 +31,7 @@
   "homepage": "https://github.com/polkadot-js/common/tree/master/packages/util-rlp#readme",
   "dependencies": {
     "@babel/runtime": "^7.3.4",
-    "@polkadot/util": "^0.38.0-beta.5"
+    "@polkadot/util": "^0.38.0"
   },
   "devDependencies": {
     "ethereumjs-testing": "1.0.4"
diff --git a/packages/util/package.json b/packages/util/package.json
index 2a62c5712..a11fe37b7 100644
--- a/packages/util/package.json
+++ b/packages/util/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@polkadot/util",
-  "version": "0.38.0-beta.5",
+  "version": "0.38.0",
   "description": "A collection of useful utilities for @polkadot",
   "main": "index.js",
   "keywords": [