diff --git a/src/wallet/scriptpubkeyman.cpp b/src/wallet/scriptpubkeyman.cpp
index a866b5e4c0..9300630f66 100644
--- a/src/wallet/scriptpubkeyman.cpp
+++ b/src/wallet/scriptpubkeyman.cpp
@@ -361,6 +361,41 @@ bool LegacyScriptPubKeyMan::CanGetAddresses(bool internal)
     return keypool_has_keys;
 }
 
+bool LegacyScriptPubKeyMan::Upgrade(int prev_version, std::string& error)
+{
+    AssertLockHeld(cs_wallet);
+    error = "";
+    bool hd_upgrade = false;
+    bool split_upgrade = false;
+    if (m_storage.CanSupportFeature(FEATURE_HD) && !IsHDEnabled()) {
+        WalletLogPrintf("Upgrading wallet to HD\n");
+        m_storage.SetMinVersion(FEATURE_HD);
+
+        // generate a new master key
+        CPubKey masterPubKey = GenerateNewSeed();
+        SetHDSeed(masterPubKey);
+        hd_upgrade = true;
+    }
+    // Upgrade to HD chain split if necessary
+    if (m_storage.CanSupportFeature(FEATURE_HD_SPLIT)) {
+        WalletLogPrintf("Upgrading wallet to use HD chain split\n");
+        m_storage.SetMinVersion(FEATURE_PRE_SPLIT_KEYPOOL);
+        split_upgrade = FEATURE_HD_SPLIT > prev_version;
+    }
+    // Mark all keys currently in the keypool as pre-split
+    if (split_upgrade) {
+        MarkPreSplitKeys();
+    }
+    // Regenerate the keypool if upgraded to HD
+    if (hd_upgrade) {
+        if (!TopUpKeyPool()) {
+            error = _("Unable to generate keys").translated;
+            return false;
+        }
+    }
+    return true;
+}
+
 static int64_t GetOldestKeyTimeInPool(const std::set<int64_t>& setKeyPool, WalletBatch& batch) {
     if (setKeyPool.empty()) {
         return GetTime();
diff --git a/src/wallet/scriptpubkeyman.h b/src/wallet/scriptpubkeyman.h
index be55d3cb12..e2a706e9af 100644
--- a/src/wallet/scriptpubkeyman.h
+++ b/src/wallet/scriptpubkeyman.h
@@ -165,6 +165,9 @@ public:
     /* Returns true if the wallet can give out new addresses. This means it has keys in the keypool or can generate new keys */
     virtual bool CanGetAddresses(bool internal = false) { return false; }
 
+    /** Upgrades the wallet to the specified version */
+    virtual bool Upgrade(int prev_version, std::string& error) { return false; }
+
     virtual int64_t GetOldestKeyPoolTime() { return GetTime(); }
 
     virtual size_t KeypoolCountExternalKeys() { return 0; }
@@ -271,6 +274,8 @@ public:
 
     bool IsHDEnabled() const override;
 
+    bool Upgrade(int prev_version, std::string& error) override;
+
     int64_t GetOldestKeyPoolTime() override;
     size_t KeypoolCountExternalKeys() override EXCLUSIVE_LOCKS_REQUIRED(cs_wallet);
 
diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index c35ba4fcd9..2c4507a1b6 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -3614,31 +3614,10 @@ std::shared_ptr<CWallet> CWallet::CreateWalletFromFile(interfaces::Chain& chain,
             return nullptr;
         }
 
-        bool hd_upgrade = false;
-        bool split_upgrade = false;
-        if (walletInstance->CanSupportFeature(FEATURE_HD) && !walletInstance->m_spk_man->IsHDEnabled()) {
-            walletInstance->WalletLogPrintf("Upgrading wallet to HD\n");
-            walletInstance->SetMinVersion(FEATURE_HD);
-
-            // generate a new master key
-            CPubKey masterPubKey = walletInstance->m_spk_man->GenerateNewSeed();
-            walletInstance->m_spk_man->SetHDSeed(masterPubKey);
-            hd_upgrade = true;
-        }
-        // Upgrade to HD chain split if necessary
-        if (walletInstance->CanSupportFeature(FEATURE_HD_SPLIT)) {
-            walletInstance->WalletLogPrintf("Upgrading wallet to use HD chain split\n");
-            walletInstance->SetMinVersion(FEATURE_PRE_SPLIT_KEYPOOL);
-            split_upgrade = FEATURE_HD_SPLIT > prev_version;
-        }
-        // Mark all keys currently in the keypool as pre-split
-        if (split_upgrade) {
-            walletInstance->MarkPreSplitKeys();
-        }
-        // Regenerate the keypool if upgraded to HD
-        if (hd_upgrade) {
-            if (!walletInstance->m_spk_man->TopUp()) {
-                error = _("Unable to generate keys").translated;
+        if (auto spk_man = walletInstance->m_spk_man.get()) {
+            std::string error;
+            if (!spk_man->Upgrade(prev_version, error)) {
+                chain.initError(error);
                 return nullptr;
             }
         }
diff --git a/src/wallet/wallet.h b/src/wallet/wallet.h
index f9a7bd1d18..2a80395644 100644
--- a/src/wallet/wallet.h
+++ b/src/wallet/wallet.h
@@ -1134,7 +1134,6 @@ public:
     std::set<int64_t>& setInternalKeyPool GUARDED_BY(cs_wallet) = m_spk_man->setInternalKeyPool;
     std::set<int64_t>& setExternalKeyPool GUARDED_BY(cs_wallet) = m_spk_man->setExternalKeyPool;
     int64_t& nTimeFirstKey GUARDED_BY(cs_wallet) = m_spk_man->nTimeFirstKey;
-    void MarkPreSplitKeys() EXCLUSIVE_LOCKS_REQUIRED(cs_wallet) { AssertLockHeld(m_spk_man->cs_wallet); m_spk_man->MarkPreSplitKeys(); }
     using CryptedKeyMap = LegacyScriptPubKeyMan::CryptedKeyMap;
 };