diff --git a/Cargo.lock b/Cargo.lock
index db70f7da2f..d09e8fed93 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -56,9 +56,9 @@ checksum = "85bb70cc08ec97ca5450e6eba421deeea5f172c0fc61f78b5357b2a8e8be195f"
 
 [[package]]
 name = "arbitrary"
-version = "0.4.5"
+version = "0.4.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7cb544f1057eaaff4b34f8c4dcf56fc3cd04debd291998405d135017a7c3c0f4"
+checksum = "0922a3e746b5a44e111e5603feb6704e5cc959116f66737f50bb5cbd264e9d87"
 dependencies = [
  "derive_arbitrary",
 ]
@@ -656,9 +656,9 @@ dependencies = [
 
 [[package]]
 name = "derive_arbitrary"
-version = "0.4.5"
+version = "0.4.6"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "02b43185d3e7ce7dcd44a23ca761ec026359753ebf480283a571e6463853d2ef"
+checksum = "d0f7c6c81276b6b8702074defbdb1938933ddf98c7f7e0dca8d9e9214dd6c730"
 dependencies = [
  "proc-macro2",
  "quote",
@@ -2285,6 +2285,16 @@ dependencies = [
  "yanix",
 ]
 
+[[package]]
+name = "wasm-smith"
+version = "0.1.1"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "8ec52a2524c15abcc827e59c1eef9cdb742b4ba57a6db6a1ccd914e357326edd"
+dependencies = [
+ "arbitrary",
+ "leb128",
+]
+
 [[package]]
 name = "wasmparser"
 version = "0.57.0"
@@ -2467,6 +2477,7 @@ dependencies = [
  "libfuzzer-sys",
  "peepmatic-fuzzing",
  "target-lexicon",
+ "wasm-smith",
  "wasmtime",
  "wasmtime-fuzzing",
 ]
diff --git a/fuzz/Cargo.toml b/fuzz/Cargo.toml
index 78733f5862..e1103478f0 100644
--- a/fuzz/Cargo.toml
+++ b/fuzz/Cargo.toml
@@ -17,6 +17,7 @@ target-lexicon = "0.10"
 peepmatic-fuzzing = { path = "../cranelift/peepmatic/crates/fuzzing", optional = true }
 wasmtime = { path = "../crates/wasmtime" }
 wasmtime-fuzzing = { path = "../crates/fuzzing" }
+wasm-smith = "0.1.1"
 
 [[bin]]
 name = "compile"
@@ -100,3 +101,9 @@ required-features = ["peepmatic-fuzzing"]
 
 [features]
 binaryen = ["wasmtime-fuzzing/binaryen"]
+
+[[bin]]
+name = "instantiate-wasm-smith"
+path = "fuzz_targets/instantiate-wasm-smith.rs"
+test = false
+doc = false
diff --git a/fuzz/fuzz_targets/instantiate-wasm-smith.rs b/fuzz/fuzz_targets/instantiate-wasm-smith.rs
new file mode 100755
index 0000000000..9c081eff88
--- /dev/null
+++ b/fuzz/fuzz_targets/instantiate-wasm-smith.rs
@@ -0,0 +1,13 @@
+#![no_main]
+
+use libfuzzer_sys::fuzz_target;
+use wasm_smith::Module;
+use wasmtime::Strategy;
+use wasmtime_fuzzing::oracles;
+
+fuzz_target!(|module: Module| {
+    let mut module = module;
+    module.ensure_termination(1000);
+    let wasm_bytes = module.to_bytes();
+    oracles::instantiate(&wasm_bytes, Strategy::Auto);
+});