diff --git a/__tests__/components/TokensCollectiblesInline.test.tsx b/__tests__/components/TokensCollectiblesInline.test.tsx
index 2735ef07f..e03a7be17 100644
--- a/__tests__/components/TokensCollectiblesInline.test.tsx
+++ b/__tests__/components/TokensCollectiblesInline.test.tsx
@@ -2,6 +2,7 @@ import { fireEvent, render, screen } from "@testing-library/react-native";
 import { TokensCollectiblesInline } from "components/screens/SendScreen/components/TokensCollectiblesInline";
 import { NETWORKS, TransactionContext } from "config/constants";
 import { useCollectiblesStore } from "ducks/collectibles";
+import { useBalancesList } from "hooks/useBalancesList";
 import { useFilteredCollectibles } from "hooks/useFilteredCollectibles";
 import React from "react";
 import {
@@ -42,9 +43,10 @@ jest.mock("hooks/useAppTranslation", () => ({
     t: (key: string) =>
       ({
         "balancesList.title": "Tokens",
+        "balancesList.error": "Error loading balances",
         "collectiblesGrid.title": "Collectibles",
         "collectiblesGrid.error": "Error loading collectibles",
-        "collectiblesGrid.empty": "No collectibles",
+        "transactionTokenScreen.empty": "No tokens or collectibles to send",
       })[key] || key,
   }),
 }));
@@ -65,82 +67,323 @@ jest.mock("ducks/collectibles", () => ({
   useCollectiblesStore: jest.fn(),
 }));
 
+jest.mock("hooks/useBalancesList", () => ({
+  useBalancesList: jest.fn(),
+}));
+
 jest.mock("hooks/useFilteredCollectibles", () => ({
   useFilteredCollectibles: jest.fn(),
 }));
 
 const mockUseCollectiblesStore =
   useCollectiblesStore as unknown as jest.MockedFunction<any>;
+const mockUseBalancesList =
+  useBalancesList as unknown as jest.MockedFunction<any>;
 const mockUseFilteredCollectibles =
   useFilteredCollectibles as unknown as jest.MockedFunction<any>;
 
-const setupCollectibleState = ({
-  isLoading = false,
-  error = null,
+const setupState = ({
+  // Tokens
+  tokensLoading = false,
+  tokensError = null,
+  noBalances = false,
+  // Collectibles
+  collectiblesLoading = false,
+  collectiblesError = null,
   visibleCollectibles = [],
 }: {
-  isLoading?: boolean;
-  error?: string | null;
+  tokensLoading?: boolean;
+  tokensError?: string | null;
+  noBalances?: boolean;
+  collectiblesLoading?: boolean;
+  collectiblesError?: string | null;
   visibleCollectibles?: any[];
 }) => {
+  mockUseBalancesList.mockReturnValue({
+    isLoading: tokensLoading,
+    error: tokensError,
+    noBalances,
+  });
   mockUseCollectiblesStore.mockImplementation((selector: any) =>
-    selector({ isLoading, error }),
+    selector({ isLoading: collectiblesLoading, error: collectiblesError }),
   );
   mockUseFilteredCollectibles.mockReturnValue({ visibleCollectibles });
 };
 
+const renderComponent = (props = {}) =>
+  render(
+    <TokensCollectiblesInline
+      publicKey="G..."
+      network={NETWORKS.TESTNET}
+      feeContext={TransactionContext.Send}
+      {...props}
+    />,
+  );
+
 describe("TokensCollectiblesInline", () => {
   beforeEach(() => {
     jest.clearAllMocks();
   });
 
-  it("shows loading spinner while collectibles are loading", () => {
-    setupCollectibleState({ isLoading: true, visibleCollectibles: [] });
+  it("shows a single spinner while tokens are still loading", () => {
+    setupState({ tokensLoading: true, noBalances: true });
 
-    render(
-      <TokensCollectiblesInline
-        publicKey="G..."
-        network={NETWORKS.TESTNET}
-        feeContext={TransactionContext.Send}
-      />,
-    );
+    renderComponent();
 
-    expect(screen.getByTestId("collectibles-inline-spinner")).toBeTruthy();
+    expect(
+      screen.getByTestId("tokens-collectibles-inline-spinner"),
+    ).toBeTruthy();
   });
 
-  it("shows collectibles error state", () => {
-    setupCollectibleState({ error: "failed", visibleCollectibles: [] });
+  it("shows a single spinner while collectibles are still loading", () => {
+    setupState({ collectiblesLoading: true, visibleCollectibles: [] });
+
+    renderComponent();
 
-    render(
-      <TokensCollectiblesInline
-        publicKey="G..."
-        network={NETWORKS.TESTNET}
-        feeContext={TransactionContext.Send}
-      />,
-    );
+    expect(
+      screen.getByTestId("tokens-collectibles-inline-spinner"),
+    ).toBeTruthy();
+  });
 
+  it("does not blank the funded token list while tokens refresh in the background", () => {
+    // tokensLoading is true but balances are present (noBalances false), so the
+    // spinner must NOT show — matching BalancesList's own gate, the funded list
+    // stays visible during a background refresh.
+    setupState({
+      tokensLoading: true,
+      noBalances: false,
+      visibleCollectibles: [],
+    });
+
+    renderComponent();
+
+    expect(
+      screen.queryByTestId("tokens-collectibles-inline-spinner"),
+    ).toBeNull();
+    expect(screen.getByTestId("balances-list-token-row")).toBeTruthy();
+  });
+
+  it("shows the collectibles error beneath its header when only collectibles fail", () => {
+    setupState({ collectiblesError: "failed", noBalances: true });
+
+    renderComponent();
+
+    expect(screen.getByText("Collectibles")).toBeTruthy();
+    expect(
+      screen.getByTestId("collectibles-inline-error"),
+    ).toBeTruthy();
     expect(screen.getByText("Error loading collectibles")).toBeTruthy();
   });
 
-  it("shows collectibles empty state", () => {
-    setupCollectibleState({ visibleCollectibles: [] });
+  it("keeps the spinner up while one source loads even if the other has errored", () => {
+    // We wait for both sources before rendering content, so a settled token
+    // error stays hidden behind the spinner until collectibles finish loading.
+    setupState({
+      tokensError: "token-failed",
+      noBalances: true,
+      collectiblesLoading: true,
+      visibleCollectibles: [],
+    });
+
+    renderComponent();
+
+    expect(
+      screen.getByTestId("tokens-collectibles-inline-spinner"),
+    ).toBeTruthy();
+    expect(screen.queryByTestId("tokens-inline-error")).toBeNull();
+    expect(screen.queryByText("Error loading balances")).toBeNull();
+  });
+
+  it("renders the tokens list alongside the collectibles error when only collectibles fail", () => {
+    setupState({ noBalances: false, collectiblesError: "failed" });
+
+    renderComponent();
+
+    expect(screen.getByText("Tokens")).toBeTruthy();
+    expect(screen.getByTestId("balances-list-token-row")).toBeTruthy();
+    expect(screen.getByText("Collectibles")).toBeTruthy();
+    expect(screen.getByTestId("collectibles-inline-error")).toBeTruthy();
+    expect(screen.getByText("Error loading collectibles")).toBeTruthy();
+  });
+
+  it("renders the collectibles alongside the tokens error when only tokens fail", () => {
+    setupState({
+      tokensError: "token-failed",
+      noBalances: true,
+      visibleCollectibles: [
+        {
+          collectionAddress: "CABC",
+          collectionName: "Cool Collection",
+          items: [
+            {
+              collectionAddress: "CABC",
+              tokenId: "42",
+              image: "https://example.com/item.png",
+              name: "Collectible #42",
+            },
+          ],
+        },
+      ],
+    });
+
+    renderComponent();
+
+    expect(screen.getByText("Tokens")).toBeTruthy();
+    expect(screen.getByTestId("tokens-inline-error")).toBeTruthy();
+    expect(screen.getByText("Error loading balances")).toBeTruthy();
+    expect(screen.getByText("Collectibles")).toBeTruthy();
+    expect(screen.getByText("Collectible #42")).toBeTruthy();
+  });
+
+  it("keeps the loaded collectibles visible while they reload in the background", () => {
+    // Once collectibles have loaded, a background refetch (which flips
+    // isLoading without clearing the data) must not blank the page back to a
+    // spinner. The network/account can't change while the send flow is
+    // mounted, so the loaded data is always current.
+    setupState({
+      noBalances: true,
+      collectiblesLoading: true,
+      visibleCollectibles: [
+        {
+          collectionAddress: "CABC",
+          collectionName: "Cool Collection",
+          items: [
+            {
+              collectionAddress: "CABC",
+              tokenId: "1",
+              image: "https://example.com/item.png",
+              name: "Collectible #1",
+            },
+          ],
+        },
+      ],
+    });
+
+    renderComponent();
+
+    expect(
+      screen.queryByTestId("tokens-collectibles-inline-spinner"),
+    ).toBeNull();
+    expect(screen.getByText("Collectible #1")).toBeTruthy();
+  });
+
+  it("suppresses a stale collectibles error while a retry is loading", () => {
+    // The collectibles store keeps the old error set while re-fetching, so a
+    // retry-in-flight (loading + stale error) should show the spinner, not the
+    // stale error.
+    setupState({
+      noBalances: true,
+      collectiblesLoading: true,
+      collectiblesError: "stale-failure",
+      visibleCollectibles: [],
+    });
+
+    renderComponent();
+
+    expect(screen.queryByTestId("collectibles-inline-error")).toBeNull();
+    expect(
+      screen.getByTestId("tokens-collectibles-inline-spinner"),
+    ).toBeTruthy();
+  });
+
+  it("shows both section errors when both sources fail", () => {
+    setupState({
+      tokensError: "token-failed",
+      noBalances: true,
+      collectiblesError: "collectibles-failed",
+    });
+
+    renderComponent();
+
+    expect(screen.getByTestId("tokens-inline-error")).toBeTruthy();
+    expect(screen.getByText("Error loading balances")).toBeTruthy();
+    expect(screen.getByTestId("collectibles-inline-error")).toBeTruthy();
+    expect(screen.getByText("Error loading collectibles")).toBeTruthy();
+  });
+
+  it("shows the combined empty fallback when there are no tokens or collectibles", () => {
+    setupState({ noBalances: true, visibleCollectibles: [] });
+
+    renderComponent();
+
+    expect(
+      screen.getByText("No tokens or collectibles to send"),
+    ).toBeTruthy();
+  });
+
+  it("hides the collectibles section when there are no collectibles", () => {
+    setupState({ noBalances: false, visibleCollectibles: [] });
+
+    renderComponent();
+
+    expect(screen.getByText("Tokens")).toBeTruthy();
+    expect(screen.getByTestId("balances-list-token-row")).toBeTruthy();
+    expect(screen.queryByText("Collectibles")).toBeNull();
+    expect(
+      screen.queryByText("No tokens or collectibles to send"),
+    ).toBeNull();
+  });
+
+  it("renders both the tokens and collectibles sections when both are present", () => {
+    setupState({
+      noBalances: false,
+      visibleCollectibles: [
+        {
+          collectionAddress: "CABC",
+          collectionName: "Cool Collection",
+          items: [
+            {
+              collectionAddress: "CABC",
+              tokenId: "42",
+              image: "https://example.com/item.png",
+              name: "Collectible #42",
+            },
+          ],
+        },
+      ],
+    });
+
+    renderComponent();
+
+    expect(screen.getByText("Tokens")).toBeTruthy();
+    expect(screen.getByTestId("balances-list-token-row")).toBeTruthy();
+    expect(screen.getByText("Collectibles")).toBeTruthy();
+    expect(screen.getByText("Collectible #42")).toBeTruthy();
+    expect(
+      screen.queryByText("No tokens or collectibles to send"),
+    ).toBeNull();
+  });
+
+  it("hides the tokens section when there are no balances", () => {
+    setupState({
+      noBalances: true,
+      visibleCollectibles: [
+        {
+          collectionAddress: "CABC",
+          collectionName: "Cool Collection",
+          items: [
+            {
+              collectionAddress: "CABC",
+              tokenId: "42",
+              image: "https://example.com/item.png",
+              name: "Collectible #42",
+            },
+          ],
+        },
+      ],
+    });
 
-    render(
-      <TokensCollectiblesInline
-        publicKey="G..."
-        network={NETWORKS.TESTNET}
-        feeContext={TransactionContext.Send}
-      />,
-    );
+    renderComponent();
 
-    expect(screen.getByText("No collectibles")).toBeTruthy();
+    expect(screen.queryByTestId("balances-list-token-row")).toBeNull();
+    expect(screen.getByText("Collectibles")).toBeTruthy();
   });
 
   it("forwards token and collectible press handlers", () => {
     const onTokenPress = jest.fn();
     const onCollectiblePress = jest.fn();
 
-    setupCollectibleState({
+    setupState({
       visibleCollectibles: [
         {
           collectionAddress: "CABC",
@@ -157,15 +400,7 @@ describe("TokensCollectiblesInline", () => {
       ],
     });
 
-    render(
-      <TokensCollectiblesInline
-        publicKey="G..."
-        network={NETWORKS.TESTNET}
-        onTokenPress={onTokenPress}
-        onCollectiblePress={onCollectiblePress}
-        feeContext={TransactionContext.Send}
-      />,
-    );
+    renderComponent({ onTokenPress, onCollectiblePress });
 
     fireEvent.press(screen.getByTestId("balances-list-token-row"));
     expect(onTokenPress).toHaveBeenCalledWith("native");
diff --git a/src/components/screens/SendScreen/components/TokensCollectiblesInline.tsx b/src/components/screens/SendScreen/components/TokensCollectiblesInline.tsx
index f5f37a595..98b7c66e5 100644
--- a/src/components/screens/SendScreen/components/TokensCollectiblesInline.tsx
+++ b/src/components/screens/SendScreen/components/TokensCollectiblesInline.tsx
@@ -11,6 +11,7 @@ import {
 import { useCollectiblesStore } from "ducks/collectibles";
 import { pxValue } from "helpers/dimensions";
 import useAppTranslation from "hooks/useAppTranslation";
+import { useBalancesList } from "hooks/useBalancesList";
 import useColors from "hooks/useColors";
 import { useFilteredCollectibles } from "hooks/useFilteredCollectibles";
 import React from "react";
@@ -45,83 +46,177 @@ export const TokensCollectiblesInline: React.FC<
 }) => {
   const { t } = useAppTranslation();
   const { themeColors } = useColors();
-  const isLoading = useCollectiblesStore((state) => state.isLoading);
-  const error = useCollectiblesStore((state) => state.error);
+
+  // Tokens state, lifted from the same hook BalancesList uses internally so we
+  // can drive a single page-level spinner/error.
+  const { isLoading: tokensLoading, error: tokensError, noBalances } =
+    useBalancesList({ publicKey, network });
+
+  // Collectibles state.
+  const collectiblesLoading = useCollectiblesStore((state) => state.isLoading);
+  const collectiblesError = useCollectiblesStore((state) => state.error);
   const { visibleCollectibles } = useFilteredCollectibles();
 
-  const renderCollectiblesContent = () => {
-    if (isLoading) {
-      return (
-        <View className="items-center justify-center py-6">
-          <Spinner
-            testID="collectibles-inline-spinner"
-            size="small"
-            color={themeColors.secondary}
-          />
-        </View>
-      );
-    }
+  const hasTokens = !noBalances;
+  const hasCollectibles = visibleCollectibles.length > 0;
 
-    if (error) {
-      return (
-        <View className="py-2">
+  // Single spinner: keep it up until both sources have data for the first time.
+  //
+  // Both sources gate on "no data yet" — tokens on noBalances (matching
+  // BalancesList's own spinner condition) and collectibles on !hasCollectibles.
+  // This waits for BOTH sources before any content renders, but once a section
+  // has data a later background refetch (which flips isLoading without clearing
+  // the existing data) no longer blanks the whole page back to a spinner.
+  //
+  // The collectibles store keeping stale data/error mid-refetch (it only flips
+  // isLoading) is not a concern here: the network and active account cannot
+  // change while the send flow is mounted, so the data on screen always belongs
+  // to the current account/network.
+  //
+  // Because the spinner covers the initial load of both sources, a per-section
+  // error only surfaces once loading has settled, so the collectibles store's
+  // stale-error-during-retry is masked and the per-section error checks below
+  // need no extra !collectiblesLoading guard.
+  const showSpinner =
+    (tokensLoading && noBalances) || (collectiblesLoading && !hasCollectibles);
+
+  // Each source renders its own section independently: a failed source shows
+  // its (curated) error beneath its section header, while the other source
+  // still renders its content. A section is "shown" when it either has data or
+  // has errored.
+  const tokensSectionShown = Boolean(tokensError) || hasTokens;
+  const collectiblesSectionShown = Boolean(collectiblesError) || hasCollectibles;
+
+  // The combined empty fallback only applies when both sources succeeded with
+  // no data; an error in either section takes its place instead.
+  const showEmpty = !tokensSectionShown && !collectiblesSectionShown;
+
+  const renderSectionHeader = (
+    icon: React.ReactNode,
+    title: string,
+    withTopMargin = false,
+  ) => (
+    <View
+      className={`flex-row items-center gap-2 mb-6 ${
+        withTopMargin ? "mt-8" : ""
+      }`}
+    >
+      {icon}
+      <Text md medium secondary>
+        {title}
+      </Text>
+    </View>
+  );
+
+  const renderInlineError = (testID: string, message: string) => (
+    <View className="py-2">
+      <Text md secondary testID={testID}>
+        {message}
+      </Text>
+    </View>
+  );
+
+  const renderCollectibles = () =>
+    visibleCollectibles.map((collection) => (
+      <View key={collection.collectionAddress}>
+        <View className="flex-row items-center gap-[12px] mb-3 mt-3">
+          <Text md secondary numberOfLines={1}>
+            {collection.collectionName}
+          </Text>
+          <View className="flex-1 h-[1px] bg-gray-3" />
           <Text md secondary>
-            {t("collectiblesGrid.error")}
+            {collection.items.length}
           </Text>
         </View>
-      );
-    }
 
-    if (visibleCollectibles.length === 0) {
+        {collection.items.map((item) => (
+          <TouchableOpacity
+            key={`${item.collectionAddress}-${item.tokenId}`}
+            className="flex-row items-center gap-4 py-3"
+            onPress={() =>
+              onCollectiblePress?.({
+                collectionAddress: item.collectionAddress,
+                tokenId: item.tokenId,
+              })
+            }
+          >
+            <View className="w-[40px] h-[40px] rounded-[8px] overflow-hidden bg-background-tertiary">
+              <CollectibleImage imageUri={item.image} placeholderIconSize={20} />
+            </View>
+
+            <Text md medium numberOfLines={1} style={{ flexShrink: 1 }}>
+              {item.name || `${collection.collectionName} #${item.tokenId}`}
+            </Text>
+          </TouchableOpacity>
+        ))}
+      </View>
+    ));
+
+  const renderContent = () => {
+    // Wait for both sources before rendering any content, so neither a
+    // section's data nor its error appears until loading has fully settled.
+    if (showSpinner) {
       return (
-        <View className="flex-row items-center gap-2 py-2">
-          <Icon.Grid01 size={16} color={themeColors.text.secondary} />
-          <Text md medium secondary>
-            {t("collectiblesGrid.empty")}
-          </Text>
+        <View className="items-center justify-center py-6">
+          <Spinner
+            testID="tokens-collectibles-inline-spinner"
+            size="large"
+            color={themeColors.secondary}
+          />
         </View>
       );
     }
 
     return (
       <>
-        {visibleCollectibles.map((collection) => (
-          <View key={collection.collectionAddress}>
-            <View className="flex-row items-center gap-[12px] mb-3 mt-3">
-              <Text md secondary numberOfLines={1}>
-                {collection.collectionName}
-              </Text>
-              <View className="flex-1 h-[1px] bg-gray-3" />
-              <Text md secondary>
-                {collection.items.length}
-              </Text>
-            </View>
+        {tokensSectionShown && (
+          <>
+            {renderSectionHeader(
+              <Icon.Coins03 size={16} color={themeColors.text.secondary} />,
+              t("balancesList.title"),
+            )}
+
+            {tokensError ? (
+              renderInlineError("tokens-inline-error", t("balancesList.error"))
+            ) : (
+              <BalancesList
+                publicKey={publicKey}
+                network={network}
+                onTokenPress={onTokenPress}
+                disableInnerScrolling
+                showSpendableAmount={showSpendableAmount}
+                feeContext={feeContext}
+                balanceRowTestIDPrefix={balanceRowTestIDPrefix}
+              />
+            )}
+          </>
+        )}
+
+        {collectiblesSectionShown && (
+          <>
+            {renderSectionHeader(
+              <Icon.Image01 size={16} color={themeColors.text.secondary} />,
+              t("collectiblesGrid.title"),
+              tokensSectionShown,
+            )}
+
+            {collectiblesError
+              ? renderInlineError(
+                  "collectibles-inline-error",
+                  t("collectiblesGrid.error"),
+                )
+              : renderCollectibles()}
+          </>
+        )}
 
-            {collection.items.map((item) => (
-              <TouchableOpacity
-                key={`${item.collectionAddress}-${item.tokenId}`}
-                className="flex-row items-center gap-4 py-3"
-                onPress={() =>
-                  onCollectiblePress?.({
-                    collectionAddress: item.collectionAddress,
-                    tokenId: item.tokenId,
-                  })
-                }
-              >
-                <View className="w-[40px] h-[40px] rounded-[8px] overflow-hidden bg-background-tertiary">
-                  <CollectibleImage
-                    imageUri={item.image}
-                    placeholderIconSize={20}
-                  />
-                </View>
-
-                <Text md medium numberOfLines={1} style={{ flexShrink: 1 }}>
-                  {item.name || `${collection.collectionName} #${item.tokenId}`}
-                </Text>
-              </TouchableOpacity>
-            ))}
+        {showEmpty && (
+          <View className="flex-row items-center gap-2 py-2">
+            <Icon.Grid01 size={16} color={themeColors.text.secondary} />
+            <Text md medium secondary>
+              {t("transactionTokenScreen.empty")}
+            </Text>
           </View>
-        ))}
+        )}
       </>
     );
   };
@@ -133,31 +228,7 @@ export const TokensCollectiblesInline: React.FC<
       keyboardShouldPersistTaps="handled"
       contentContainerStyle={{ paddingHorizontal: pxValue(DEFAULT_PADDING) }}
     >
-      <View className="flex-row items-center gap-2 mb-6">
-        <Icon.Coins03 size={16} color={themeColors.text.secondary} />
-        <Text md medium secondary>
-          {t("balancesList.title")}
-        </Text>
-      </View>
-
-      <BalancesList
-        publicKey={publicKey}
-        network={network}
-        onTokenPress={onTokenPress}
-        disableInnerScrolling
-        showSpendableAmount={showSpendableAmount}
-        feeContext={feeContext}
-        balanceRowTestIDPrefix={balanceRowTestIDPrefix}
-      />
-
-      <View className="flex-row items-center gap-2 mt-8 mb-6">
-        <Icon.Image01 size={16} color={themeColors.text.secondary} />
-        <Text md medium secondary>
-          {t("collectiblesGrid.title")}
-        </Text>
-      </View>
-
-      {renderCollectiblesContent()}
+      {renderContent()}
 
       <View className="pb-4" />
     </ScrollView>
diff --git a/src/i18n/locales/en/translations.json b/src/i18n/locales/en/translations.json
index 9178a257b..88caddc63 100644
--- a/src/i18n/locales/en/translations.json
+++ b/src/i18n/locales/en/translations.json
@@ -717,7 +717,8 @@
     "minimumReceived": "Minimum received"
   },
   "transactionTokenScreen": {
-    "title": "Sending"
+    "title": "Sending",
+    "empty": "No tokens or collectibles to send"
   },
   "transactionSettings": {
     "title": "Transaction settings",
diff --git a/src/i18n/locales/pt/translations.json b/src/i18n/locales/pt/translations.json
index 26e318329..f9f29cfb8 100644
--- a/src/i18n/locales/pt/translations.json
+++ b/src/i18n/locales/pt/translations.json
@@ -679,7 +679,8 @@
     "minimumReceived": "Mínimo recebido"
   },
   "transactionTokenScreen": {
-    "title": "Enviando"
+    "title": "Enviando",
+    "empty": "Nenhum token ou colecionável para enviar"
   },
   "transactionSettings": {
     "title": "Configurações da transação",