diff --git a/src/state/migrations/index.ts b/src/state/migrations/index.ts
index 445faf865f4..61860315215 100644
--- a/src/state/migrations/index.ts
+++ b/src/state/migrations/index.ts
@@ -63,4 +63,5 @@ export const migrations = {
   53: clearAssets,
   54: clearAssets,
   55: clearAssets,
+  56: clearPortfolio,
 }
diff --git a/src/state/slices/common-selectors.ts b/src/state/slices/common-selectors.ts
index 257320f6467..a24932c9523 100644
--- a/src/state/slices/common-selectors.ts
+++ b/src/state/slices/common-selectors.ts
@@ -22,11 +22,19 @@ export const selectIsWalletConnected = (state: ReduxState) =>
   state.portfolio.connectedWallet !== undefined
 export const selectWalletSupportedChainIds = (state: ReduxState) =>
   state.portfolio.connectedWallet?.supportedChainIds ?? []
+export const selectWalletEnabledAccountIds = createDeepEqualOutputSelector(
+  selectWalletId,
+  (state: ReduxState) => state.portfolio.enabledAccountIds,
+  (walletId, enabledAccountIds) => {
+    if (!walletId) return []
+    return enabledAccountIds[walletId] ?? []
+  },
+)
 
 export const selectWalletAccountIds = createDeepEqualOutputSelector(
   selectWalletId,
   (state: ReduxState) => state.portfolio.wallet.byId,
-  (state: ReduxState) => state.portfolio.enabledAccountIds,
+  selectWalletEnabledAccountIds,
   (walletId, walletById, enabledAccountIds): AccountId[] => {
     const walletAccountIds = (walletId && walletById[walletId]) ?? []
     return walletAccountIds.filter(accountId => (enabledAccountIds ?? []).includes(accountId))
diff --git a/src/state/slices/opportunitiesSlice/selectors/selectors.test.ts b/src/state/slices/opportunitiesSlice/selectors/selectors.test.ts
index b7245809e45..f1e0b271b9c 100644
--- a/src/state/slices/opportunitiesSlice/selectors/selectors.test.ts
+++ b/src/state/slices/opportunitiesSlice/selectors/selectors.test.ts
@@ -47,7 +47,7 @@ describe('opportunitiesSlice selectors', () => {
         supportedChainIds: [],
       },
       wallet,
-      enabledAccountIds: [gomesAccountId, fauxmesAccountId, catpuccinoAccountId],
+      enabledAccountIds: { [walletId]: [gomesAccountId, fauxmesAccountId, catpuccinoAccountId] },
     },
   }
   describe('selects ID/s', () => {
@@ -66,7 +66,7 @@ describe('opportunitiesSlice selectors', () => {
       },
       ids: [gomesAccountId, fauxmesAccountId],
     }
-    const enabledAccountIds = [gomesAccountId, fauxmesAccountId]
+    const enabledAccountIds = { [walletId]: [gomesAccountId, fauxmesAccountId] }
     const lp = {
       ...initialState.lp,
       byAccountId: {
diff --git a/src/state/slices/portfolioSlice/__snapshots__/portfolioSlice.test.ts.snap b/src/state/slices/portfolioSlice/__snapshots__/portfolioSlice.test.ts.snap
index 164a07f3580..f1d5a277ce1 100644
--- a/src/state/slices/portfolioSlice/__snapshots__/portfolioSlice.test.ts.snap
+++ b/src/state/slices/portfolioSlice/__snapshots__/portfolioSlice.test.ts.snap
@@ -29,9 +29,7 @@ exports[`portfolioSlice > reducers > upsertPortfolio > Bitcoin > should update s
       "bip122:000000000019d6689c085ae165831e93:zpub6qk8s2NQsYG6X2Mm6iU2ii3yTAqDb2XqnMu9vo2WjvqwjSvjjiYQQveYXbPxrnRT5Yb5p0x934be745172066EDF795ffc5EA9F28f19b440c637BaBw1wowPwbS8fj7uCfj3UhqhD2LLbvY6Ni1w",
     ],
   },
-  "enabledAccountIds": [
-    "bip122:000000000019d6689c085ae165831e93:zpub6qk8s2NQsYG6X2Mm6iU2ii3yTAqDb2XqnMu9vo2WjvqwjSvjjiYQQveYXbPxrnRT5Yb5p0x934be745172066EDF795ffc5EA9F28f19b440c637BaBw1wowPwbS8fj7uCfj3UhqhD2LLbvY6Ni1w",
-  ],
+  "enabledAccountIds": {},
   "wallet": {
     "byId": {},
     "ids": [],
@@ -79,10 +77,7 @@ exports[`portfolioSlice > reducers > upsertPortfolio > Bitcoin > should update s
       "bip122:000000000019d6689c085ae165831e93:xpub6qk8s2NQsYG6X2Mm6iU2ii3yTAqDb2XqnMu9vo2WjvqwjSvjjiYQQveYXbPxrnRT5Yb5p0x934be745172066EDF795ffc5EA9F28f19b440c637BaBw1wowPwbS8fj7uCfj3UhqhD2LLbvY6Ni1w",
     ],
   },
-  "enabledAccountIds": [
-    "bip122:000000000019d6689c085ae165831e93:zpub6qk8s2NQsYG6X2Mm6iU2ii3yTAqDb2XqnMu9vo2WjvqwjSvjjiYQQveYXbPxrnRT5Yb5p0x934be745172066EDF795ffc5EA9F28f19b440c637BaBw1wowPwbS8fj7uCfj3UhqhD2LLbvY6Ni1w",
-    "bip122:000000000019d6689c085ae165831e93:xpub6qk8s2NQsYG6X2Mm6iU2ii3yTAqDb2XqnMu9vo2WjvqwjSvjjiYQQveYXbPxrnRT5Yb5p0x934be745172066EDF795ffc5EA9F28f19b440c637BaBw1wowPwbS8fj7uCfj3UhqhD2LLbvY6Ni1w",
-  ],
+  "enabledAccountIds": {},
   "wallet": {
     "byId": {},
     "ids": [],
@@ -153,11 +148,7 @@ exports[`portfolioSlice > reducers > upsertPortfolio > Ethereum and bitcoin > sh
       "bip122:000000000019d6689c085ae165831e93:zpub6qk8s2NQsYG6X2Mm6iU2ii3yTAqDb2XqnMu9vo2WjvqwjSvjjiYQQveYXbPxrnRT5Yb5p0x934be745172066EDF795ffc5EA9F28f19b440c637BaBw1wowPwbS8fj7uCfj3UhqhD2LLbvY6Ni1w",
     ],
   },
-  "enabledAccountIds": [
-    "eip155:1:0x9a2d593725045d1727d525dd07a396f9ff079bb1",
-    "eip155:1:0xea674fdde714fd979de3edf0f56aa9716b898ec8",
-    "bip122:000000000019d6689c085ae165831e93:zpub6qk8s2NQsYG6X2Mm6iU2ii3yTAqDb2XqnMu9vo2WjvqwjSvjjiYQQveYXbPxrnRT5Yb5p0x934be745172066EDF795ffc5EA9F28f19b440c637BaBw1wowPwbS8fj7uCfj3UhqhD2LLbvY6Ni1w",
-  ],
+  "enabledAccountIds": {},
   "wallet": {
     "byId": {},
     "ids": [],
@@ -213,10 +204,7 @@ exports[`portfolioSlice > reducers > upsertPortfolio > Ethereum and bitcoin > sh
       "bip122:000000000019d6689c085ae165831e93:zpub6qk8s2NQsYG6X2Mm6iU2ii3yTAqDb2XqnMu9vo2WjvqwjSvjjiYQQveYXbPxrnRT5Yb5p0x934be745172066EDF795ffc5EA9F28f19b440c637BaBw1wowPwbS8fj7uCfj3UhqhD2LLbvY6Ni1w",
     ],
   },
-  "enabledAccountIds": [
-    "eip155:1:0x6c8a778ef52e121b7dff1154c553662306a970e9",
-    "bip122:000000000019d6689c085ae165831e93:zpub6qk8s2NQsYG6X2Mm6iU2ii3yTAqDb2XqnMu9vo2WjvqwjSvjjiYQQveYXbPxrnRT5Yb5p0x934be745172066EDF795ffc5EA9F28f19b440c637BaBw1wowPwbS8fj7uCfj3UhqhD2LLbvY6Ni1w",
-  ],
+  "enabledAccountIds": {},
   "wallet": {
     "byId": {},
     "ids": [],
@@ -255,9 +243,7 @@ exports[`portfolioSlice > reducers > upsertPortfolio > ethereum > should update
       "eip155:1:0x9a2d593725045d1727d525dd07a396f9ff079bb1",
     ],
   },
-  "enabledAccountIds": [
-    "eip155:1:0x9a2d593725045d1727d525dd07a396f9ff079bb1",
-  ],
+  "enabledAccountIds": {},
   "wallet": {
     "byId": {},
     "ids": [],
@@ -309,10 +295,7 @@ exports[`portfolioSlice > reducers > upsertPortfolio > ethereum > should update
       "eip155:1:0xea674fdde714fd979de3edf0f56aa9716b898ec8",
     ],
   },
-  "enabledAccountIds": [
-    "eip155:1:0x9a2d593725045d1727d525dd07a396f9ff079bb1",
-    "eip155:1:0xea674fdde714fd979de3edf0f56aa9716b898ec8",
-  ],
+  "enabledAccountIds": {},
   "wallet": {
     "byId": {},
     "ids": [],
diff --git a/src/state/slices/portfolioSlice/portfolioSlice.test.ts b/src/state/slices/portfolioSlice/portfolioSlice.test.ts
index ddb993e3b07..35f9eb8dddf 100644
--- a/src/state/slices/portfolioSlice/portfolioSlice.test.ts
+++ b/src/state/slices/portfolioSlice/portfolioSlice.test.ts
@@ -65,9 +65,6 @@ describe('portfolioSlice', () => {
 
           const portfolio = mockUpsertPortfolio([ethAccount], assetIds)
           store.dispatch(portfolioSlice.actions.upsertPortfolio(portfolio))
-          for (const accountId of portfolio.accounts.ids) {
-            store.dispatch(portfolioSlice.actions.enableAccountId(accountId))
-          }
 
           expect(store.getState().portfolio).toMatchSnapshot()
         })
@@ -92,9 +89,6 @@ describe('portfolioSlice', () => {
 
           const portfolio = mockUpsertPortfolio([ethAccount, ethAccount2], assetIds)
           store.dispatch(portfolioSlice.actions.upsertPortfolio(portfolio))
-          for (const accountId of portfolio.accounts.ids) {
-            store.dispatch(portfolioSlice.actions.enableAccountId(accountId))
-          }
 
           expect(store.getState().portfolio).toMatchSnapshot()
         })
@@ -111,9 +105,6 @@ describe('portfolioSlice', () => {
 
           const portfolio = mockUpsertPortfolio([btcAccount], assetIds)
           store.dispatch(portfolioSlice.actions.upsertPortfolio(portfolio))
-          for (const accountId of portfolio.accounts.ids) {
-            store.dispatch(portfolioSlice.actions.enableAccountId(accountId))
-          }
 
           expect(store.getState().portfolio).toMatchSnapshot()
         })
@@ -135,9 +126,6 @@ describe('portfolioSlice', () => {
 
           const portfolio = mockUpsertPortfolio([btcAccount, btcAccount2], assetIds)
           store.dispatch(portfolioSlice.actions.upsertPortfolio(portfolio))
-          for (const accountId of portfolio.accounts.ids) {
-            store.dispatch(portfolioSlice.actions.enableAccountId(accountId))
-          }
 
           expect(store.getState().portfolio).toMatchSnapshot()
         })
@@ -186,9 +174,6 @@ describe('portfolioSlice', () => {
 
           const portfolio = mockUpsertPortfolio([ethAccount, ethAccount2, btcAccount], assetIds)
           store.dispatch(portfolioSlice.actions.upsertPortfolio(portfolio))
-          for (const accountId of portfolio.accounts.ids) {
-            store.dispatch(portfolioSlice.actions.enableAccountId(accountId))
-          }
 
           expect(store.getState().portfolio).toMatchSnapshot()
         })
@@ -227,9 +212,6 @@ describe('portfolioSlice', () => {
 
           const portfolio = mockUpsertPortfolio([ethAccount, btcAccount], assetIds)
           store.dispatch(portfolioSlice.actions.upsertPortfolio(portfolio))
-          for (const accountId of portfolio.accounts.ids) {
-            store.dispatch(portfolioSlice.actions.enableAccountId(accountId))
-          }
 
           expect(store.getState().portfolio).toMatchSnapshot()
         })
diff --git a/src/state/slices/portfolioSlice/portfolioSlice.ts b/src/state/slices/portfolioSlice/portfolioSlice.ts
index 45b79cc9c18..9cddb147645 100644
--- a/src/state/slices/portfolioSlice/portfolioSlice.ts
+++ b/src/state/slices/portfolioSlice/portfolioSlice.ts
@@ -142,12 +142,20 @@ export const portfolio = createSlice({
      * during initial load, leading to all auto-detected accounts being disabled.
      */
     enableAccountId: (draftState, { payload: accountId }: { payload: AccountId }) => {
-      const enabledAccountIdsSet = new Set(draftState.enabledAccountIds)
+      const walletId = draftState.connectedWallet?.id
+
+      if (!walletId) return
+
+      const enabledAccountIdsSet = new Set(draftState.enabledAccountIds[walletId])
       enabledAccountIdsSet.add(accountId)
-      draftState.enabledAccountIds = Array.from(enabledAccountIdsSet)
+      draftState.enabledAccountIds[walletId] = Array.from(enabledAccountIdsSet)
     },
     toggleAccountIdEnabled: (draftState, { payload: accountId }: { payload: AccountId }) => {
-      const enabledAccountIdsSet = new Set(draftState.enabledAccountIds)
+      const walletId = draftState.connectedWallet?.id
+
+      if (!walletId) return
+
+      const enabledAccountIdsSet = new Set(draftState.enabledAccountIds[walletId])
       const isEnabled = enabledAccountIdsSet.has(accountId)
 
       if (isEnabled) {
@@ -156,7 +164,7 @@ export const portfolio = createSlice({
         enabledAccountIdsSet.add(accountId)
       }
 
-      draftState.enabledAccountIds = Array.from(enabledAccountIdsSet)
+      draftState.enabledAccountIds[walletId] = Array.from(enabledAccountIdsSet)
     },
   },
   extraReducers: builder => builder.addCase(PURGE, () => initialState),
diff --git a/src/state/slices/portfolioSlice/portfolioSliceCommon.ts b/src/state/slices/portfolioSlice/portfolioSliceCommon.ts
index e3455d42bfc..6271a190ebf 100644
--- a/src/state/slices/portfolioSlice/portfolioSliceCommon.ts
+++ b/src/state/slices/portfolioSlice/portfolioSliceCommon.ts
@@ -64,7 +64,7 @@ export type Portfolio = {
    * The `AccountId[]` that are enabled. Rather than removing the accounts and adding complexity
    * to the actions and state management, we enable them here and filter them out in the selectors.
    */
-  enabledAccountIds: AccountId[]
+  enabledAccountIds: PartialRecord<WalletId, AccountId[]>
   /**
    * 1:many mapping of a unique wallet id -> multiple account ids
    */
@@ -85,7 +85,7 @@ export const initialState: Portfolio = {
     byId: {},
     ids: [],
   },
-  enabledAccountIds: [],
+  enabledAccountIds: {},
   wallet: {
     byId: {},
     ids: [],
diff --git a/src/test/mocks/store.ts b/src/test/mocks/store.ts
index 90d954acba6..f5ae624e19f 100644
--- a/src/test/mocks/store.ts
+++ b/src/test/mocks/store.ts
@@ -55,7 +55,7 @@ export const mockStore: ReduxState = {
       byId: {},
       ids: [],
     },
-    enabledAccountIds: [],
+    enabledAccountIds: {},
     wallet: {
       byId: {},
       ids: [],