diff --git a/subxt/src/client/online_client.rs b/subxt/src/client/online_client.rs
index 338643ebea..cb45e56796 100644
--- a/subxt/src/client/online_client.rs
+++ b/subxt/src/client/online_client.rs
@@ -8,7 +8,7 @@ use crate::{
     backend::{
         legacy::LegacyBackend, rpc::RpcClient, Backend, BackendExt, RuntimeVersion, StreamOfResults,
     },
-    blocks::BlocksClient,
+    blocks::{BlockRef, BlocksClient},
     constants::ConstantsClient,
     error::Error,
     events::EventsClient,
@@ -430,24 +430,18 @@ pub struct RuntimeUpdaterStream<T: Config> {
 impl<T: Config> RuntimeUpdaterStream<T> {
     /// Wait for the next runtime update.
     pub async fn next(&mut self) -> Option<Result<Update, Error>> {
-        let maybe_runtime_version = self.stream.next().await?;
-
-        let runtime_version = match maybe_runtime_version {
+        let runtime_version = match self.stream.next().await? {
             Ok(runtime_version) => runtime_version,
             Err(err) => return Some(Err(err)),
         };
 
-        let latest_block_ref = match self.client.backend().latest_finalized_block_ref().await {
-            Ok(block_ref) => block_ref,
-            Err(e) => return Some(Err(e)),
-        };
+        let at =
+            match wait_runtime_upgrade_in_finalized_block(&self.client, &runtime_version).await? {
+                Ok(at) => at,
+                Err(err) => return Some(Err(err)),
+            };
 
-        let metadata = match OnlineClient::fetch_metadata(
-            self.client.backend(),
-            latest_block_ref.hash(),
-        )
-        .await
-        {
+        let metadata = match OnlineClient::fetch_metadata(self.client.backend(), at.hash()).await {
             Ok(metadata) => metadata,
             Err(err) => return Some(Err(err)),
         };
@@ -484,3 +478,59 @@ impl Update {
         &self.metadata
     }
 }
+
+/// Helper to wait until the runtime upgrade is applied on at finalized block.
+async fn wait_runtime_upgrade_in_finalized_block<T: Config>(
+    client: &OnlineClient<T>,
+    runtime_version: &RuntimeVersion,
+) -> Option<Result<BlockRef<T::Hash>, Error>> {
+    use scale_value::At;
+
+    let mut block_sub = match client.backend().stream_finalized_block_headers().await {
+        Ok(s) => s,
+        Err(err) => return Some(Err(err)),
+    };
+
+    let block_ref = loop {
+        let (_, block_ref) = match block_sub.next().await? {
+            Ok(n) => n,
+            Err(err) => return Some(Err(err)),
+        };
+
+        let key: Vec<scale_value::Value> = vec![];
+        let addr = crate::dynamic::storage("System", "LastRuntimeUpgrade", key);
+
+        let chunk = match client.storage().at(block_ref.hash()).fetch(&addr).await {
+            Ok(Some(v)) => v,
+            Ok(None) => {
+                // The storage `system::lastRuntimeUpgrade` should always exist.
+                // <https://github.com/paritytech/polkadot-sdk/blob/master/substrate/frame/system/src/lib.rs#L958>
+                unreachable!("The storage item `system::lastRuntimeUpgrade` should always exist")
+            }
+            Err(e) => return Some(Err(e)),
+        };
+
+        let scale_val = match chunk.to_value() {
+            Ok(v) => v,
+            Err(e) => return Some(Err(e)),
+        };
+
+        let Some(Ok(spec_version)) = scale_val
+            .at("spec_version")
+            .and_then(|v| v.as_u128())
+            .map(u32::try_from)
+        else {
+            return Some(Err(Error::Other(
+                "Decoding `RuntimeVersion::spec_version` as u32 failed".to_string(),
+            )));
+        };
+
+        // We are waiting for the chain to have the same spec version
+        // as sent out via the runtime subscription.
+        if spec_version == runtime_version.spec_version {
+            break block_ref;
+        }
+    };
+
+    Some(Ok(block_ref))
+}