diff --git a/Cargo.toml b/Cargo.toml
index 5425c03f0..24af31e27 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -19,7 +19,7 @@ repository = "https://github.com/zcash/zcash"
 readme = "README.md"
 license = "MIT OR Apache-2.0"
 edition = "2018"
-rust-version = "1.68"
+rust-version = "1.69"
 
 [package.metadata.vet]
 store = { path = "./qa/supply-chain" }
diff --git a/depends/packages/native_rust.mk b/depends/packages/native_rust.mk
index a5e0a9f23..99bc5da0f 100644
--- a/depends/packages/native_rust.mk
+++ b/depends/packages/native_rust.mk
@@ -3,16 +3,16 @@ package=native_rust
 # ./contrib/devtools/update-rust-hashes.sh
 # The Rust compiler should use the same LLVM version as the Clang compiler; you
 # can check this with `rustc --version -v`.
-$(package)_version=1.68.2
+$(package)_version=1.69.0
 $(package)_download_path=https://static.rust-lang.org/dist
 $(package)_file_name_linux=rust-$($(package)_version)-x86_64-unknown-linux-gnu.tar.gz
-$(package)_sha256_hash_linux=df7c7466ef35556e855c0d35af7ff08e133040400452eb3427c53202b6731926
+$(package)_sha256_hash_linux=2ca4a306047c0b8b4029c382910fcbc895badc29680e0332c9df990fd1c70d4f
 $(package)_file_name_darwin=rust-$($(package)_version)-x86_64-apple-darwin.tar.gz
-$(package)_sha256_hash_darwin=632540d3d83758cb048dc45fcfbc0b29f6f170161a3051be22b0a2962a566fb9
+$(package)_sha256_hash_darwin=9818dab2c3726d63dfbfde12c9273e62e484ef6d6f6e05a6431a3e089c335454
 $(package)_file_name_freebsd=rust-$($(package)_version)-x86_64-unknown-freebsd.tar.gz
-$(package)_sha256_hash_freebsd=3b824f662c48ed3a5117bad7992d467837cbf6fa93ac18c4816a175034eee178
+$(package)_sha256_hash_freebsd=2985d98910b4a1dd336bfc7a1ac3b18082ed917cff097b4db6f0d6602016c289
 $(package)_file_name_aarch64_linux=rust-$($(package)_version)-aarch64-unknown-linux-gnu.tar.gz
-$(package)_sha256_hash_aarch64_linux=b24d0df852490d80791a228f18c2b75f24b1e6437e6e745f85364edab245f7fa
+$(package)_sha256_hash_aarch64_linux=88af5aa7a40c8f1b40416a1f27de8ffbe09c155d933f69d3e109c0ccee92353b
 
 # Mapping from GCC canonical hosts to Rust targets
 # If a mapping is not present, we assume they are identical, unless $host_os is
@@ -21,10 +21,10 @@ $(package)_rust_target_x86_64-pc-linux-gnu=x86_64-unknown-linux-gnu
 $(package)_rust_target_x86_64-w64-mingw32=x86_64-pc-windows-gnu
 
 # Mapping from Rust targets to SHA-256 hashes
-$(package)_rust_std_sha256_hash_aarch64-unknown-linux-gnu=74c2cca31e34cbc0913fc2445c4853acb20c52dba2d0c3012a007cc5decc3bb1
-$(package)_rust_std_sha256_hash_x86_64-apple-darwin=5d6a7d62ae67c2f7aae6eabb782a3125cf9fed6bbc2993d59b3714f4f832e797
-$(package)_rust_std_sha256_hash_x86_64-pc-windows-gnu=4598f3f44f84353dcf64aab9669b7c3982fccc1e7840f3ef1aa90cadc37864a4
-$(package)_rust_std_sha256_hash_x86_64-unknown-freebsd=c94334345413a28669b271584b385ed0c0d6c410458103d7242353dd8fb9048d
+$(package)_rust_std_sha256_hash_aarch64-unknown-linux-gnu=8f42b40c0a0658ee75ce758652c9821fac7db3fbd8d20f7fb2483ec2c57ee0ac
+$(package)_rust_std_sha256_hash_x86_64-apple-darwin=e44d71250dc5a238da0dc4784dad59d562862653adecd31ea52e0920b85c6a7c
+$(package)_rust_std_sha256_hash_x86_64-pc-windows-gnu=09ded4a4c27c16aff9c9911640b1bdf6e1172237ce540ed4dc3e166e9438f0d7
+$(package)_rust_std_sha256_hash_x86_64-unknown-freebsd=eed4b3f3358a8887b0f6a62e021469878a8990af9b94c2fe87d3c1b0220913bb
 
 define rust_target
 $(if $($(1)_rust_target_$(2)),$($(1)_rust_target_$(2)),$(if $(findstring darwin,$(3)),x86_64-apple-darwin,$(if $(findstring freebsd,$(3)),x86_64-unknown-freebsd,$(2))))
diff --git a/rust-toolchain.toml b/rust-toolchain.toml
index 0cf440a7e..d04f2eb53 100644
--- a/rust-toolchain.toml
+++ b/rust-toolchain.toml
@@ -1,3 +1,3 @@
 [toolchain]
-channel = "1.68.0"
+channel = "1.69.0"
 components = ["clippy", "rustfmt"]