diff --git a/ui/components/app/assets/token-list/token-list.tsx b/ui/components/app/assets/token-list/token-list.tsx
index 3366727cc8a1..a69cb2afe267 100644
--- a/ui/components/app/assets/token-list/token-list.tsx
+++ b/ui/components/app/assets/token-list/token-list.tsx
@@ -67,12 +67,12 @@ export default function TokenList({
   ]);
 
   useEffect(() => {
-    endTrace({ name: TraceName.AccountOverviewAssetListTabFCP });
-  }, []);
-
-  if (!loading) {
-    endTrace({ name: TraceName.AccountOverviewAssetListTab });
-  }
+    if (loading) {
+      endTrace({ name: TraceName.AccountOverviewAssetListTabFCP });
+    } else {
+      endTrace({ name: TraceName.AccountOverviewAssetListTab });
+    }
+  }, [loading]);
 
   return loading ? (
     <Box