diff --git a/Cargo.lock b/Cargo.lock
index 035264912761bd00a1ac29d0d4b7b1d60cebf62f..3ceb702cfcef32aeb128987b2d21411914300829 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1066,9 +1066,9 @@ checksum = "fed34cd105917e91daa4da6b3728c47b068749d6a62c59811f06ed2ac71d9da7"
 
 [[package]]
 name = "futures"
-version = "0.3.15"
+version = "0.3.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0e7e43a803dae2fa37c1f6a8fe121e1f7bf9548b4dfc0522a42f34145dadfc27"
+checksum = "1adc00f486adfc9ce99f77d717836f0c5aa84965eb0b4f051f4e83f7cab53f8b"
 dependencies = [
  "futures-channel",
  "futures-core",
@@ -1081,9 +1081,9 @@ dependencies = [
 
 [[package]]
 name = "futures-channel"
-version = "0.3.15"
+version = "0.3.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "e682a68b29a882df0545c143dc3646daefe80ba479bcdede94d5a703de2871e2"
+checksum = "74ed2411805f6e4e3d9bc904c95d5d423b89b3b25dc0250aa74729de20629ff9"
 dependencies = [
  "futures-core",
  "futures-sink",
@@ -1091,15 +1091,15 @@ dependencies = [
 
 [[package]]
 name = "futures-core"
-version = "0.3.15"
+version = "0.3.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "0402f765d8a89a26043b889b26ce3c4679d268fa6bb22cd7c6aad98340e179d1"
+checksum = "af51b1b4a7fdff033703db39de8802c673eb91855f2e0d47dcf3bf2c0ef01f99"
 
 [[package]]
 name = "futures-executor"
-version = "0.3.15"
+version = "0.3.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "badaa6a909fac9e7236d0620a2f57f7664640c56575b71a7552fbd68deafab79"
+checksum = "4d0d535a57b87e1ae31437b892713aee90cd2d7b0ee48727cd11fc72ef54761c"
 dependencies = [
  "futures-core",
  "futures-task",
@@ -1109,9 +1109,9 @@ dependencies = [
 
 [[package]]
 name = "futures-io"
-version = "0.3.15"
+version = "0.3.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "acc499defb3b348f8d8f3f66415835a9131856ff7714bf10dadfc4ec4bdb29a1"
+checksum = "0b0e06c393068f3a6ef246c75cdca793d6a46347e75286933e5e75fd2fd11582"
 
 [[package]]
 name = "futures-lite"
@@ -1130,9 +1130,9 @@ dependencies = [
 
 [[package]]
 name = "futures-macro"
-version = "0.3.15"
+version = "0.3.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a4c40298486cdf52cc00cd6d6987892ba502c7656a16a4192a9992b1ccedd121"
+checksum = "c54913bae956fb8df7f4dc6fc90362aa72e69148e3f39041fbe8742d21e0ac57"
 dependencies = [
  "autocfg 1.0.1",
  "proc-macro-hack",
@@ -1143,15 +1143,15 @@ dependencies = [
 
 [[package]]
 name = "futures-sink"
-version = "0.3.15"
+version = "0.3.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "a57bead0ceff0d6dde8f465ecd96c9338121bb7717d3e7b108059531870c4282"
+checksum = "c0f30aaa67363d119812743aa5f33c201a7a66329f97d1a887022971feea4b53"
 
 [[package]]
 name = "futures-task"
-version = "0.3.15"
+version = "0.3.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "8a16bef9fc1a4dddb5bee51c989e3fbba26569cbb0e31f5b303c184e3dd33dae"
+checksum = "bbe54a98670017f3be909561f6ad13e810d9a51f3f061b902062ca3da80799f2"
 
 [[package]]
 name = "futures-timer"
@@ -1161,9 +1161,9 @@ checksum = "e64b03909df88034c26dc1547e8970b91f98bdb65165d6a4e9110d94263dbb2c"
 
 [[package]]
 name = "futures-util"
-version = "0.3.15"
+version = "0.3.16"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "feb5c238d27e2bf94ffdfd27b2c29e3df4a68c4193bb6427384259e2bf191967"
+checksum = "67eb846bfd58e44a8481a00049e82c43e0ccb5d61f8dc071057cb19249dd4d78"
 dependencies = [
  "autocfg 1.0.1",
  "futures-channel",
diff --git a/Cargo.toml b/Cargo.toml
index 67db79c9d032face4b6ad331646ec033adf00d52..83e2d83cdd4af9cdbb1bf088c8a8b260d32f732f 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -46,7 +46,7 @@ regex = "1.4"
 async-std = { version = "1.9.0", optional = true }
 sp-core = { version = "2.0.1", optional = true }
 subxt = { version = "0.14.0", package = "substrate-subxt", optional = true }
-futures = { version = "0.3.15", optional = true }
+futures = { version = "0.3.16", optional = true }
 hex = { version = "0.4.3", optional = true }
 
 # Should be removed once bitvecto-rs/bitvec#105 is resolved