diff --git a/CHANGELOG.md b/CHANGELOG.md
index 0a707ea381..649eee4110 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,7 @@
 ### Features
 
 - [#8180](https://github.com/blockscout/blockscout/pull/8180) - Deposits and Withdrawals for Polygon Edge
+- [#7996](https://github.com/blockscout/blockscout/pull/7996) - Add CoinBalance fetcher init query limit
 
 ### Fixes
 
diff --git a/apps/explorer/lib/explorer/chain.ex b/apps/explorer/lib/explorer/chain.ex
index 3c4239b7ce..6aa532de03 100644
--- a/apps/explorer/lib/explorer/chain.ex
+++ b/apps/explorer/lib/explorer/chain.ex
@@ -2232,7 +2232,7 @@ defmodule Explorer.Chain do
       )
 
     query
-    |> add_fetcher_limit(limited?)
+    |> add_coin_balances_fetcher_limit(limited?)
     |> Repo.stream_reduce(initial, reducer)
   end
 
@@ -6315,6 +6315,14 @@ defmodule Explorer.Chain do
     limit(query, ^token_balances_fetcher_limit)
   end
 
+  defp add_coin_balances_fetcher_limit(query, false), do: query
+
+  defp add_coin_balances_fetcher_limit(query, true) do
+    coin_balances_fetcher_limit = Application.get_env(:indexer, :coin_balances_fetcher_init_limit)
+
+    limit(query, ^coin_balances_fetcher_limit)
+  end
+
   def put_has_token_transfers_to_tx(query, true), do: query
 
   def put_has_token_transfers_to_tx(query, false) do
diff --git a/apps/indexer/lib/indexer/fetcher/coin_balance.ex b/apps/indexer/lib/indexer/fetcher/coin_balance.ex
index ce80805e5d..26d5d39962 100644
--- a/apps/indexer/lib/indexer/fetcher/coin_balance.ex
+++ b/apps/indexer/lib/indexer/fetcher/coin_balance.ex
@@ -69,7 +69,8 @@ defmodule Indexer.Fetcher.CoinBalance do
           address_fields
           |> entry()
           |> reducer.(acc)
-        end
+        end,
+        true
       )
 
     final
diff --git a/config/runtime.exs b/config/runtime.exs
index 54b268988f..2d51abb619 100644
--- a/config/runtime.exs
+++ b/config/runtime.exs
@@ -431,7 +431,9 @@ config :indexer,
   hide_indexing_progress_alert: ConfigHelper.parse_bool_env_var("INDEXER_HIDE_INDEXING_PROGRESS_ALERT"),
   fetcher_init_limit: ConfigHelper.parse_integer_env_var("INDEXER_FETCHER_INIT_QUERY_LIMIT", 100),
   token_balances_fetcher_init_limit:
-    ConfigHelper.parse_integer_env_var("INDEXER_TOKEN_BALANCES_FETCHER_INIT_QUERY_LIMIT", 100_000)
+    ConfigHelper.parse_integer_env_var("INDEXER_TOKEN_BALANCES_FETCHER_INIT_QUERY_LIMIT", 100_000),
+  coin_balances_fetcher_init_limit:
+    ConfigHelper.parse_integer_env_var("INDEXER_COIN_BALANCES_FETCHER_INIT_QUERY_LIMIT", 2000)
 
 config :indexer, Indexer.Supervisor, enabled: !ConfigHelper.parse_bool_env_var("DISABLE_INDEXER")
 
diff --git a/docker-compose/envs/common-blockscout.env b/docker-compose/envs/common-blockscout.env
index 39ad8823cd..5d8c29b3c5 100644
--- a/docker-compose/envs/common-blockscout.env
+++ b/docker-compose/envs/common-blockscout.env
@@ -139,6 +139,7 @@ INDEXER_DISABLE_INTERNAL_TRANSACTIONS_FETCHER=false
 # INDEXER_REALTIME_FETCHER_MAX_GAP=
 # INDEXER_FETCHER_INIT_QUERY_LIMIT=
 # INDEXER_TOKEN_BALANCES_FETCHER_INIT_QUERY_LIMIT=
+# INDEXER_COIN_BALANCES_FETCHER_INIT_QUERY_LIMIT=
 # INDEXER_DISABLE_WITHDRAWALS_FETCHER=
 # WITHDRAWALS_FIRST_BLOCK=
 # TOKEN_ID_MIGRATION_FIRST_BLOCK=