diff --git a/Cargo.lock b/Cargo.lock
index bd7a0009..790d7c5a 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -216,12 +216,6 @@ dependencies = [
  "tokio",
 ]
 
-[[package]]
-name = "async-once-cell"
-version = "0.5.4"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "4288f83726785267c6f2ef073a3d83dc3f9b81464e9f99898240cced85fce35a"
-
 [[package]]
 name = "async-recursion"
 version = "1.1.1"
@@ -2978,7 +2972,7 @@ dependencies = [
 [[package]]
 name = "matrix-sdk"
 version = "0.11.0"
-source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=4d2c261ff85f607c3af09be89044047dc84bdfec#4d2c261ff85f607c3af09be89044047dc84bdfec"
+source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=1348525447e99cb27ddca2e23885d9bab3837297#1348525447e99cb27ddca2e23885d9bab3837297"
 dependencies = [
  "anymap2",
  "aquamarine",
@@ -3035,7 +3029,7 @@ dependencies = [
 [[package]]
 name = "matrix-sdk-base"
 version = "0.11.0"
-source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=4d2c261ff85f607c3af09be89044047dc84bdfec#4d2c261ff85f607c3af09be89044047dc84bdfec"
+source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=1348525447e99cb27ddca2e23885d9bab3837297#1348525447e99cb27ddca2e23885d9bab3837297"
 dependencies = [
  "as_variant",
  "async-trait",
@@ -3062,7 +3056,7 @@ dependencies = [
 [[package]]
 name = "matrix-sdk-common"
 version = "0.11.0"
-source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=4d2c261ff85f607c3af09be89044047dc84bdfec#4d2c261ff85f607c3af09be89044047dc84bdfec"
+source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=1348525447e99cb27ddca2e23885d9bab3837297#1348525447e99cb27ddca2e23885d9bab3837297"
 dependencies = [
  "async-trait",
  "eyeball-im",
@@ -3085,7 +3079,7 @@ dependencies = [
 [[package]]
 name = "matrix-sdk-crypto"
 version = "0.11.0"
-source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=4d2c261ff85f607c3af09be89044047dc84bdfec#4d2c261ff85f607c3af09be89044047dc84bdfec"
+source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=1348525447e99cb27ddca2e23885d9bab3837297#1348525447e99cb27ddca2e23885d9bab3837297"
 dependencies = [
  "aes",
  "aquamarine",
@@ -3126,7 +3120,7 @@ dependencies = [
 [[package]]
 name = "matrix-sdk-indexeddb"
 version = "0.11.0"
-source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=4d2c261ff85f607c3af09be89044047dc84bdfec#4d2c261ff85f607c3af09be89044047dc84bdfec"
+source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=1348525447e99cb27ddca2e23885d9bab3837297#1348525447e99cb27ddca2e23885d9bab3837297"
 dependencies = [
  "anyhow",
  "async-trait",
@@ -3154,7 +3148,7 @@ dependencies = [
 [[package]]
 name = "matrix-sdk-qrcode"
 version = "0.11.0"
-source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=4d2c261ff85f607c3af09be89044047dc84bdfec#4d2c261ff85f607c3af09be89044047dc84bdfec"
+source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=1348525447e99cb27ddca2e23885d9bab3837297#1348525447e99cb27ddca2e23885d9bab3837297"
 dependencies = [
  "byteorder",
  "qrcode",
@@ -3166,7 +3160,7 @@ dependencies = [
 [[package]]
 name = "matrix-sdk-sqlite"
 version = "0.11.0"
-source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=4d2c261ff85f607c3af09be89044047dc84bdfec#4d2c261ff85f607c3af09be89044047dc84bdfec"
+source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=1348525447e99cb27ddca2e23885d9bab3837297#1348525447e99cb27ddca2e23885d9bab3837297"
 dependencies = [
  "as_variant",
  "async-trait",
@@ -3190,7 +3184,7 @@ dependencies = [
 [[package]]
 name = "matrix-sdk-store-encryption"
 version = "0.11.0"
-source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=4d2c261ff85f607c3af09be89044047dc84bdfec#4d2c261ff85f607c3af09be89044047dc84bdfec"
+source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=1348525447e99cb27ddca2e23885d9bab3837297#1348525447e99cb27ddca2e23885d9bab3837297"
 dependencies = [
  "base64",
  "blake3",
@@ -3209,10 +3203,9 @@ dependencies = [
 [[package]]
 name = "matrix-sdk-ui"
 version = "0.11.0"
-source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=4d2c261ff85f607c3af09be89044047dc84bdfec#4d2c261ff85f607c3af09be89044047dc84bdfec"
+source = "git+https://github.com/matrix-org/matrix-rust-sdk.git?rev=1348525447e99cb27ddca2e23885d9bab3837297#1348525447e99cb27ddca2e23885d9bab3837297"
 dependencies = [
  "as_variant",
- "async-once-cell",
  "async-rx",
  "async-stream",
  "async_cell",
diff --git a/Cargo.toml b/Cargo.toml
index 71c2a387..23349225 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -73,7 +73,7 @@ sourceview = { package = "sourceview5", version = "0.9" }
 [dependencies.matrix-sdk]
 # version = "0.11"
 git = "https://github.com/matrix-org/matrix-rust-sdk.git"
-rev = "4d2c261ff85f607c3af09be89044047dc84bdfec"
+rev = "1348525447e99cb27ddca2e23885d9bab3837297"
 features = [
     "socks",
     "sso-login",
@@ -84,12 +84,12 @@ features = [
 [dependencies.matrix-sdk-store-encryption]
 # version = "0.11"
 git = "https://github.com/matrix-org/matrix-rust-sdk.git"
-rev = "4d2c261ff85f607c3af09be89044047dc84bdfec"
+rev = "1348525447e99cb27ddca2e23885d9bab3837297"
 
 [dependencies.matrix-sdk-ui]
 # version = "0.11"
 git = "https://github.com/matrix-org/matrix-rust-sdk.git"
-rev = "4d2c261ff85f607c3af09be89044047dc84bdfec"
+rev = "1348525447e99cb27ddca2e23885d9bab3837297"
 
 [dependencies.ruma]
 # version = "0.12.2"
diff --git a/src/session/model/room/timeline/event/mod.rs b/src/session/model/room/timeline/event/mod.rs
index 51dcb52d..abfbf3b1 100644
--- a/src/session/model/room/timeline/event/mod.rs
+++ b/src/session/model/room/timeline/event/mod.rs
@@ -187,7 +187,7 @@ mod imp {
             let item = Arc::new(item);
             let prev_item = self.item.replace(Some(item.clone()));
 
-            self.reactions.update(&item.content().reactions());
+            self.reactions.update(item.content().reactions());
             self.update_read_receipts(item.read_receipts());
 
             let prev_source = prev_item.as_ref().and_then(|i| i.original_json());
diff --git a/src/session/model/room/timeline/event/reaction_list.rs b/src/session/model/room/timeline/event/reaction_list.rs
index 846c4759..2c9db040 100644
--- a/src/session/model/room/timeline/event/reaction_list.rs
+++ b/src/session/model/room/timeline/event/reaction_list.rs
@@ -51,42 +51,59 @@ mod imp {
 
     impl ReactionList {
         /// Update the reaction list with the given reactions.
-        pub(super) fn update(&self, new_reactions: &ReactionsByKeyBySender) {
-            let changed = {
-                let old_reactions = self.reactions.borrow();
-
-                old_reactions.len() != new_reactions.len()
-                    || new_reactions
-                        .keys()
-                        .zip(old_reactions.keys())
-                        .any(|(new_key, old_key)| new_key != old_key)
-            };
+        pub(super) fn update(&self, new_reactions: Option<&ReactionsByKeyBySender>) {
+            let mut pos = 0usize;
 
-            if changed {
+            let (removed, added) = {
                 let mut reactions = self.reactions.borrow_mut();
-                let user = self.user.get().expect("user is initialized");
-                let prev_len = reactions.len();
-                let new_len = new_reactions.len();
 
-                *reactions = new_reactions
+                // Update the first groups with identical keys.
+                for ((new_key, group_reactions), (old_key, group)) in new_reactions
                     .iter()
-                    .map(|(key, reactions)| {
-                        let group = ReactionGroup::new(key, user);
-                        group.update(reactions);
-                        (key.clone(), group)
-                    })
-                    .collect();
-
-                // We cannot have the borrow active when items_changed is emitted because that
-                // will probably cause reads of the reactions field.
-                std::mem::drop(reactions);
-
-                self.obj().items_changed(0, prev_len as u32, new_len as u32);
-            } else {
-                let reactions = self.reactions.borrow();
-                for (reactions, group) in new_reactions.values().zip(reactions.values()) {
-                    group.update(reactions);
+                    .flat_map(|new_reactions| new_reactions.iter())
+                    .zip(reactions.iter())
+                {
+                    if new_key == old_key {
+                        group.update(group_reactions);
+                        pos += 1;
+                    } else {
+                        // Stop as soon as the keys do not match.
+                        break;
+                    }
+                }
+
+                // Remove all the groups after the mismatch, if any.
+                let removed = reactions.len() - pos;
+                if removed > 0 {
+                    reactions.truncate(pos);
+                }
+
+                // Add new groups for the new keys, if any.
+                let new_len = new_reactions
+                    .map(|new_reactions| new_reactions.len())
+                    .unwrap_or_default();
+                let added = new_len - pos;
+                if added > 0 {
+                    let user = self.user.get().expect("user should be initialized");
+                    reactions.extend(
+                        new_reactions
+                            .iter()
+                            .flat_map(|new_reactions| new_reactions.iter())
+                            .skip(pos)
+                            .map(|(key, group_reactions)| {
+                                let group = ReactionGroup::new(key, user);
+                                group.update(group_reactions);
+                                (key.clone(), group)
+                            }),
+                    );
                 }
+
+                (removed, added)
+            };
+
+            if removed != 0 || added != 0 {
+                self.obj()
+                    .items_changed(pos as u32, removed as u32, added as u32);
             }
         }
 
@@ -113,7 +130,7 @@ impl ReactionList {
     }
 
     /// Update the reaction list with the given reactions.
-    pub(crate) fn update(&self, new_reactions: &ReactionsByKeyBySender) {
+    pub(crate) fn update(&self, new_reactions: Option<&ReactionsByKeyBySender>) {
         self.imp().update(new_reactions);
     }