diff --git a/packages/key-management/src/util/createAsyncKeyAgent.ts b/packages/key-management/src/util/createAsyncKeyAgent.ts
index 75c1c85253b..09ebddf0b3e 100644
--- a/packages/key-management/src/util/createAsyncKeyAgent.ts
+++ b/packages/key-management/src/util/createAsyncKeyAgent.ts
@@ -1,7 +1,7 @@
 import { AsyncKeyAgent, KeyAgent } from '../';
 import { BehaviorSubject } from 'rxjs';
 
-export const createAsyncKeyAgent = (keyAgent: KeyAgent): AsyncKeyAgent => {
+export const createAsyncKeyAgent = (keyAgent: KeyAgent, shutdownSpy?: () => void): AsyncKeyAgent => {
   const knownAddresses$ = new BehaviorSubject(keyAgent.knownAddresses);
   return {
     async deriveAddress(derivationPath) {
@@ -16,6 +16,7 @@ export const createAsyncKeyAgent = (keyAgent: KeyAgent): AsyncKeyAgent => {
     knownAddresses$,
     shutdown() {
       knownAddresses$.complete();
+      if (shutdownSpy) shutdownSpy();
     },
     signBlob: keyAgent.signBlob.bind(keyAgent),
     signTransaction: keyAgent.signTransaction.bind(keyAgent)
diff --git a/packages/key-management/test/mocks/testKeyAgent.ts b/packages/key-management/test/mocks/testKeyAgent.ts
index 1449713b0d1..370f6cc887c 100644
--- a/packages/key-management/test/mocks/testKeyAgent.ts
+++ b/packages/key-management/test/mocks/testKeyAgent.ts
@@ -25,5 +25,6 @@ export const testKeyAgent = async (
 export const testAsyncKeyAgent = async (
   addresses?: GroupedAddress[],
   dependencies: KeyAgentDependencies | undefined = mockKeyAgentDependencies(),
-  keyAgentReady = testKeyAgent(addresses, dependencies)
-) => util.createAsyncKeyAgent(await keyAgentReady);
+  keyAgentReady = testKeyAgent(addresses, dependencies),
+  shutdownSpy?: () => void
+) => util.createAsyncKeyAgent(await keyAgentReady, shutdownSpy);
diff --git a/packages/wallet/test/SingleAddressWallet/shutdown.test.ts b/packages/wallet/test/SingleAddressWallet/shutdown.test.ts
new file mode 100644
index 00000000000..28e07cd76fe
--- /dev/null
+++ b/packages/wallet/test/SingleAddressWallet/shutdown.test.ts
@@ -0,0 +1,267 @@
+/* eslint-disable max-statements */
+/* eslint-disable @typescript-eslint/no-explicit-any */
+import * as mocks from '../mocks';
+import { AddressType, GroupedAddress } from '@cardano-sdk/key-management';
+import { AssetId, createStubStakePoolProvider, somePartialStakePools } from '@cardano-sdk/util-dev';
+import {
+  Cardano,
+  ChainHistoryProvider,
+  NetworkInfoProvider,
+  RewardsProvider,
+  UtxoProvider,
+  coalesceValueQuantities
+} from '@cardano-sdk/core';
+import {
+  ConnectionStatusTracker,
+  PollingConfig,
+  SingleAddressWallet,
+  TxSubmitProviderStats,
+  WalletNetworkInfoProviderStats,
+  setupWallet
+} from '../../src';
+import { WalletStores, createInMemoryWalletStores } from '../../src/persistence';
+import { currentEpoch } from '../mocks';
+import { firstValueFrom } from 'rxjs';
+import { dummyLogger as logger } from 'ts-log';
+import { testAsyncKeyAgent, testKeyAgent } from '../../../key-management/test/mocks';
+import flatten from 'lodash/flatten';
+
+const name = 'Test Wallet';
+const address = mocks.utxo[0][0].address!;
+const rewardAccount = mocks.rewardAccount;
+
+interface Providers {
+  rewardsProvider: RewardsProvider;
+  utxoProvider: UtxoProvider;
+  chainHistoryProvider: ChainHistoryProvider;
+  networkInfoProvider: NetworkInfoProvider;
+  connectionStatusTracker$?: ConnectionStatusTracker;
+}
+
+const createWallet = async (
+  stores: WalletStores,
+  providers: Providers,
+  shutdownSpy?: () => void,
+  pollingConfig?: PollingConfig
+) => {
+  const { wallet } = await setupWallet({
+    createKeyAgent: async (dependencies) => {
+      const groupedAddress: GroupedAddress = {
+        accountIndex: 0,
+        address,
+        index: 0,
+        networkId: Cardano.NetworkId.testnet,
+        rewardAccount,
+        stakeKeyDerivationPath: mocks.stakeKeyDerivationPath,
+        type: AddressType.External
+      };
+      const asyncKeyAgent = await testAsyncKeyAgent(
+        [groupedAddress],
+        dependencies,
+        testKeyAgent([groupedAddress], dependencies),
+        shutdownSpy
+      );
+      asyncKeyAgent.deriveAddress = jest.fn().mockResolvedValue(groupedAddress);
+      return asyncKeyAgent;
+    },
+    createWallet: async (keyAgent) => {
+      const { rewardsProvider, utxoProvider, chainHistoryProvider, networkInfoProvider, connectionStatusTracker$ } =
+        providers;
+      const txSubmitProvider = mocks.mockTxSubmitProvider();
+      const assetProvider = mocks.mockAssetProvider();
+      const stakePoolProvider = createStubStakePoolProvider();
+
+      return new SingleAddressWallet(
+        { name, polling: pollingConfig },
+        {
+          assetProvider,
+          chainHistoryProvider,
+          connectionStatusTracker$,
+          keyAgent,
+          logger,
+          networkInfoProvider,
+          rewardsProvider,
+          stakePoolProvider,
+          stores,
+          txSubmitProvider,
+          utxoProvider
+        }
+      );
+    }
+  });
+  return wallet;
+};
+
+const assertWalletProperties = async (
+  wallet: SingleAddressWallet,
+  expectedDelegateeId: Cardano.PoolId | undefined,
+  expectedRewardsHistory = flatten([...mocks.rewardsHistory.values()])
+) => {
+  expect(wallet.keyAgent).toBeTruthy();
+  // name
+  expect(wallet.name).toBe(name);
+  // utxo
+  const utxoAvailable = await firstValueFrom(wallet.utxo.available$);
+  const utxoTotal = await firstValueFrom(wallet.utxo.total$);
+  expect(utxoAvailable).toEqual(mocks.utxo);
+  expect(utxoTotal).toEqual(mocks.utxo);
+  // balance
+  const balanceAvailable = await firstValueFrom(wallet.balance.utxo.available$);
+  expect(balanceAvailable?.coins).toEqual(coalesceValueQuantities(mocks.utxo.map((utxo) => utxo[1].value)).coins);
+  expect(await firstValueFrom(wallet.balance.rewardAccounts.rewards$)).toBe(mocks.rewardAccountBalance);
+  // transactions
+  const transactionsHistory = await firstValueFrom(wallet.transactions.history$);
+  expect(transactionsHistory?.length).toBeGreaterThan(0);
+  // tip$
+  await firstValueFrom(wallet.tip$);
+  expect(wallet.tip$.value).toEqual(mocks.ledgerTip);
+  // currentEpoch$
+  expect(wallet.currentEpoch$.value?.epochNo).toEqual(currentEpoch.number);
+  // protocolParameters$
+  await firstValueFrom(wallet.protocolParameters$);
+  expect(wallet.protocolParameters$.value).toEqual(mocks.protocolParameters);
+  // genesisParameters$
+  await firstValueFrom(wallet.genesisParameters$);
+  expect(wallet.genesisParameters$.value).toEqual(mocks.genesisParameters);
+  // delegation
+  const rewardsHistory = await firstValueFrom(wallet.delegation.rewardsHistory$);
+  const expectedRewards = expectedRewardsHistory;
+  expect(rewardsHistory.all).toEqual(expectedRewards);
+  const rewardAccounts = await firstValueFrom(wallet.delegation.rewardAccounts$);
+  expect(rewardAccounts).toHaveLength(1);
+  expect(rewardAccounts[0].address).toBe(rewardAccount);
+  expect(rewardAccounts[0].delegatee?.nextNextEpoch?.id).toEqual(expectedDelegateeId);
+  expect(rewardAccounts[0].rewardBalance).toBe(mocks.rewardAccountBalance);
+  // addresses$
+  const addresses = await firstValueFrom(wallet.addresses$);
+  expect(addresses[0].address).toEqual(address);
+  expect(addresses[0].rewardAccount).toEqual(rewardAccount);
+  // assets$
+  expect(await firstValueFrom(wallet.assets$)).toEqual(new Map([[AssetId.TSLA, mocks.asset]]));
+  // inputAddressResolver
+  expect(typeof wallet.util).toBe('object');
+};
+
+describe('SingleAddressWallet shutdown', () => {
+  // These two properties are not reachable via the public interface of the wallet.
+  let txSubmitProviderStats: any;
+  let walletNetworkInfoProviderStats: any;
+
+  beforeAll(() => {
+    txSubmitProviderStats = jest.spyOn(TxSubmitProviderStats.prototype, 'shutdown');
+    walletNetworkInfoProviderStats = jest.spyOn(WalletNetworkInfoProviderStats.prototype, 'shutdown');
+  });
+
+  afterAll(() => {
+    jest.restoreAllMocks();
+  });
+
+  it('completes all wallet Subjects', async () => {
+    let isKeyAgentShutdown = false;
+    let isCurrentEpoch$Completed = false;
+    let tip$Completed = false;
+    let eraSummaries$Completed = false;
+    let addresses$Completed = false;
+    let protocolParameters$Completed = false;
+    let genesisParameters$Completed = false;
+    let assets$Completed = false;
+
+    const stores = createInMemoryWalletStores();
+    const wallet1 = await createWallet(
+      stores,
+      {
+        chainHistoryProvider: mocks.mockChainHistoryProvider(),
+        networkInfoProvider: mocks.mockNetworkInfoProvider(),
+        rewardsProvider: mocks.mockRewardsProvider(),
+        utxoProvider: mocks.mockUtxoProvider()
+      },
+      () => {
+        isKeyAgentShutdown = true;
+      }
+    );
+
+    // Verify all observables have completed.
+    wallet1.currentEpoch$.subscribe({
+      complete: () => {
+        isCurrentEpoch$Completed = true;
+      }
+    });
+
+    wallet1.currentEpoch$.subscribe({
+      complete: () => {
+        isCurrentEpoch$Completed = true;
+      }
+    });
+
+    wallet1.tip$.subscribe({
+      complete: () => {
+        tip$Completed = true;
+      }
+    });
+
+    wallet1.eraSummaries$.subscribe({
+      complete: () => {
+        eraSummaries$Completed = true;
+      }
+    });
+
+    wallet1.addresses$.subscribe({
+      complete: () => {
+        addresses$Completed = true;
+      }
+    });
+
+    wallet1.protocolParameters$.subscribe({
+      complete: () => {
+        protocolParameters$Completed = true;
+      }
+    });
+
+    wallet1.genesisParameters$.subscribe({
+      complete: () => {
+        genesisParameters$Completed = true;
+      }
+    });
+
+    wallet1.assets$.subscribe({
+      complete: () => {
+        assets$Completed = true;
+      }
+    });
+
+    await assertWalletProperties(wallet1, somePartialStakePools[0].id);
+
+    // Verify all other properties have been shutdown.
+    const utxo = jest.spyOn(wallet1.utxo, 'shutdown');
+    const transactions = jest.spyOn(wallet1.transactions, 'shutdown');
+    const delegation = jest.spyOn(wallet1.delegation, 'shutdown');
+    const syncStatus = jest.spyOn(wallet1.syncStatus, 'shutdown');
+    const assetProviderStatsShutdown = jest.spyOn(wallet1.assetProvider.stats, 'shutdown');
+    const chainHistoryProviderStats = jest.spyOn(wallet1.chainHistoryProvider.stats, 'shutdown');
+    const rewardsProviderStats = jest.spyOn(wallet1.rewardsProvider.stats, 'shutdown');
+    const stakePoolProviderStats = jest.spyOn(wallet1.stakePoolProvider.stats, 'shutdown');
+    const utxoProviderStats = jest.spyOn(wallet1.utxoProvider.stats, 'shutdown');
+
+    wallet1.shutdown();
+
+    expect(assetProviderStatsShutdown).toHaveBeenCalledTimes(1);
+    expect(chainHistoryProviderStats).toHaveBeenCalledTimes(1);
+    expect(rewardsProviderStats).toHaveBeenCalledTimes(1);
+    expect(stakePoolProviderStats).toHaveBeenCalledTimes(1);
+    expect(txSubmitProviderStats).toHaveBeenCalledTimes(1);
+    expect(utxoProviderStats).toHaveBeenCalledTimes(1);
+    expect(walletNetworkInfoProviderStats).toHaveBeenCalledTimes(1);
+    expect(isKeyAgentShutdown).toBeTruthy();
+    expect(isCurrentEpoch$Completed).toBeTruthy();
+    expect(tip$Completed).toBeTruthy();
+    expect(eraSummaries$Completed).toBeTruthy();
+    expect(addresses$Completed).toBeTruthy();
+    expect(protocolParameters$Completed).toBeTruthy();
+    expect(genesisParameters$Completed).toBeTruthy();
+    expect(assets$Completed).toBeTruthy();
+    expect(utxo).toHaveBeenCalledTimes(1);
+    expect(transactions).toHaveBeenCalledTimes(1);
+    expect(delegation).toHaveBeenCalledTimes(1);
+    expect(syncStatus).toHaveBeenCalledTimes(1);
+  });
+});