diff --git a/mingw-w64-python-wheel/PKGBUILD b/mingw-w64-python-wheel/PKGBUILD
index 2e29694e6b..dd2ce43e7e 100644
--- a/mingw-w64-python-wheel/PKGBUILD
+++ b/mingw-w64-python-wheel/PKGBUILD
@@ -1,44 +1,54 @@
 # Maintainer: J. Peter Mugaas <jpmugaas@suddenlink.net>
 
-_bootstrapping=no
-
-_pyname=wheel
-_realname=${_pyname}
+_realname=wheel
 pkgbase=mingw-w64-python-${_realname}
 pkgname=("${MINGW_PACKAGE_PREFIX}-python-${_realname}")
 provides=("${MINGW_PACKAGE_PREFIX}-python3-${_realname}")
 conflicts=("${MINGW_PACKAGE_PREFIX}-python3-${_realname}")
 replaces=("${MINGW_PACKAGE_PREFIX}-python3-${_realname}")
-pkgver=0.37.1
-pkgrel=4
+pkgver=0.38.4
+pkgrel=1
 pkgdesc="A built-package format for Python (mingw-w64)"
 arch=('any')
 mingw_arch=('mingw32' 'mingw64' 'ucrt64' 'clang64' 'clang32' 'clangarm64')
-url="https://pypi.python.org/pypi/wheel"
+url="https://github.com/pypa/wheel"
 license=('spdx:MIT')
-depends=("${MINGW_PACKAGE_PREFIX}-python")
-if [[ "${_bootstrapping}" == "no" ]]; then
-  makedepends=("${MINGW_PACKAGE_PREFIX}-python-installer")
-fi
+depends=("${MINGW_PACKAGE_PREFIX}-python"
+         "${MINGW_PACKAGE_PREFIX}-python-packaging")
+makedepends=("${MINGW_PACKAGE_PREFIX}-python-setuptools")
 options=('!strip')
-source=("https://pypi.debian.net/wheel/wheel-${pkgver}-py2.py3-none-any.whl"
-        "install_wheel.py")
-sha256sums=('4bdcd7d840138086126cd09254dc6195fb4fc6f01c050a1d7236f2630db1d22a'
-            '668e64f912d6360330c403edb6100b21f6aa6dd6a7803d342fab8c35d8176ad9')
+source=("https://pypi.org/packages/source/${_realname::1}/${_realname}/${_realname}-${pkgver}.tar.gz")
+sha256sums=('965f5259b566725405b05e7cf774052044b1ed30119b5d586b2703aafe8719ac')
+
+prepare() {
+  cd "${srcdir}"/${_realname}-${pkgver}
+
+  # https://github.com/pypa/wheel/pull/365
+  rm -r src/wheel/vendored
+  sed -i 's/from .vendored.packaging import tags/from packaging import tags/' src/wheel/bdist_wheel.py
+  sed -i 's/from wheel.vendored.packaging import tags/from packaging import tags/' tests/test_bdist_wheel.py
+
+  cd "${srcdir}"
+  rm -rf python-build-${MSYSTEM} | true
+  cp -r "${_realname}-${pkgver}" "python-build-${MSYSTEM}"
+}
+
+build() {
+  msg "Python build for ${MSYSTEM}"
+  cd "${srcdir}/python-build-${MSYSTEM}"
+  ${MINGW_PREFIX}/bin/python setup.py build
+}
 
 package() {
+  cd "${srcdir}/python-build-${MSYSTEM}"
+  MSYS2_ARG_CONV_EXCL="--prefix=;--install-scripts=;--install-platlib=" \
+  ${MINGW_PREFIX}/bin/python setup.py install --prefix=${MINGW_PREFIX} \
+    --root="${pkgdir}" --optimize=1 --skip-build
 
-  if [[ "${_bootstrapping}" == "no" ]]; then
-    MSYS2_ARG_CONV_EXCL="--prefix=" \
-      python -m installer --prefix=${MINGW_PREFIX} --destdir="${pkgdir}" *.whl
-  else
-    _pythonpath=`python -c "import sysconfig; print(sysconfig.get_path('platlib'))"`
-    _site_packages="${pkgdir}$(cygpath ${_pythonpath})"
-    mkdir -p "$_site_packages"
-    python "${srcdir}/install_wheel.py" -i"${_site_packages}" *.whl
-    MSYS2_ARG_CONV_EXCL="-p" python -m compileall \
-      -o 0 -o 1 -q -s"${pkgdir}" -p"/" "${pkgdir}${MINGW_PREFIX}/lib/python"*
-  fi
+  for _f in "${pkgdir}${MINGW_PREFIX}"/bin/*-script.py; do
+    # Remove shebang line
+    sed -e '1 { s/^#!.*$// }' -i "${_f}"
+  done
 
-  install -Dm644 *.dist-info/LICENSE.txt "${pkgdir}${MINGW_PREFIX}/share/licenses/python-${_realname}/COPYING"
+  install -Dm644 LICENSE.txt "${pkgdir}${MINGW_PREFIX}/share/licenses/python-${_realname}/LICENSE"
 }