diff --git a/wallet/test/run-wallet.c b/wallet/test/run-wallet.c
index d28360c8f..d037d35cc 100644
--- a/wallet/test/run-wallet.c
+++ b/wallet/test/run-wallet.c
@@ -254,6 +254,13 @@ struct json_result *new_json_result(const tal_t *ctx UNNEEDED)
 /* Generated stub for null_response */
 struct json_result *null_response(const tal_t *ctx UNNEEDED)
 { fprintf(stderr, "null_response called!\n"); abort(); }
+/* Generated stub for outpointfilter_add */
+void outpointfilter_add(struct outpointfilter *of UNNEEDED,
+			const struct bitcoin_txid *txid UNNEEDED, const u32 outnum UNNEEDED)
+{ fprintf(stderr, "outpointfilter_add called!\n"); abort(); }
+/* Generated stub for outpointfilter_new */
+struct outpointfilter *outpointfilter_new(tal_t *ctx UNNEEDED)
+{ fprintf(stderr, "outpointfilter_new called!\n"); abort(); }
 /* Generated stub for peer_accept_channel */
 u8 *peer_accept_channel(struct lightningd *ld UNNEEDED,
 			const struct pubkey *peer_id UNNEEDED,
diff --git a/wallet/wallet.c b/wallet/wallet.c
index 69d562d11..027715181 100644
--- a/wallet/wallet.c
+++ b/wallet/wallet.c
@@ -16,6 +16,17 @@
 #define DIRECTION_INCOMING 0
 #define DIRECTION_OUTGOING 1
 
+static void outpointfilters_init(struct wallet *w)
+{
+	struct utxo **utxos = wallet_get_utxos(NULL, w, output_state_any);
+
+	w->owned_outpoints = outpointfilter_new(w);
+	for (size_t i = 0; i < tal_count(utxos); i++)
+		outpointfilter_add(w->owned_outpoints, &utxos[i]->txid, utxos[i]->outnum);
+
+	tal_free(utxos);
+}
+
 struct wallet *wallet_new(struct lightningd *ld,
 			  struct log *log, struct timers *timers)
 {
@@ -26,6 +37,10 @@ struct wallet *wallet_new(struct lightningd *ld,
 	wallet->bip32_base = NULL;
 	wallet->invoices = invoices_new(wallet, wallet->db, log, timers);
 	list_head_init(&wallet->unstored_payments);
+
+	db_begin_transaction(wallet->db);
+	outpointfilters_init(wallet);
+	db_commit_transaction(wallet->db);
 	return wallet;
 }
 
@@ -1016,6 +1031,8 @@ int wallet_extract_owned_outputs(struct wallet *w, const struct bitcoin_tx *tx,
 			tal_free(utxo);
 			return -1;
 		}
+		outpointfilter_add(w->owned_outpoints, &utxo->txid, utxo->outnum);
+
 		*total_satoshi += utxo->amount;
 		tal_free(utxo);
 		num_utxos++;
diff --git a/wallet/wallet.h b/wallet/wallet.h
index 514bcd2f4..eda20ca88 100644
--- a/wallet/wallet.h
+++ b/wallet/wallet.h
@@ -32,6 +32,10 @@ struct wallet {
 	struct invoices *invoices;
 	struct list_head unstored_payments;
 	u64 max_channel_dbid;
+
+	/* Filter matching all outpoints corresponding to our owned outputs,
+	 * including all spent ones */
+	struct outpointfilter *owned_outpoints;
 };
 
 /* Possible states for tracked outputs in the database. Not sure yet