diff --git a/src/com/android/launcher3/BubbleTextView.java b/src/com/android/launcher3/BubbleTextView.java
index 06bb263f23..fd04081198 100644
--- a/src/com/android/launcher3/BubbleTextView.java
+++ b/src/com/android/launcher3/BubbleTextView.java
@@ -23,6 +23,7 @@ import static com.android.launcher3.icons.GraphicsUtils.setColorAlphaBound;
 import android.animation.Animator;
 import android.animation.AnimatorListenerAdapter;
 import android.animation.ObjectAnimator;
+import android.animation.ValueAnimator;
 import android.content.Context;
 import android.content.res.ColorStateList;
 import android.content.res.TypedArray;
@@ -30,6 +31,8 @@ import android.graphics.Canvas;
 import android.graphics.Color;
 import android.graphics.Paint;
 import android.graphics.PointF;
+import android.graphics.PorterDuff.Mode;
+import android.graphics.PorterDuffColorFilter;
 import android.graphics.Rect;
 import android.graphics.drawable.ColorDrawable;
 import android.graphics.drawable.Drawable;
@@ -43,6 +46,8 @@ import android.view.View;
 import android.view.ViewDebug;
 import android.widget.TextView;
 
+import androidx.core.graphics.ColorUtils;
+
 import com.android.launcher3.Launcher.OnResumeCallback;
 import com.android.launcher3.accessibility.LauncherAccessibilityDelegate;
 import com.android.launcher3.dot.DotInfo;
@@ -50,6 +55,7 @@ import com.android.launcher3.dragndrop.DraggableView;
 import com.android.launcher3.folder.FolderIcon;
 import com.android.launcher3.graphics.IconPalette;
 import com.android.launcher3.graphics.IconShape;
+import com.android.launcher3.graphics.PlaceHolderIconDrawable;
 import com.android.launcher3.graphics.PreloadIconDrawable;
 import com.android.launcher3.icons.DotRenderer;
 import com.android.launcher3.icons.IconCache.IconLoadRequest;
@@ -84,6 +90,8 @@ public class BubbleTextView extends TextView implements ItemInfoUpdateReceiver,
     private final PointF mTranslationForReorderBounce = new PointF(0, 0);
     private final PointF mTranslationForReorderPreview = new PointF(0, 0);
 
+    private static final int ICON_UPDATE_ANIMATION_DURATION = 375;
+
     private float mScaleForReorderBounce = 1f;
 
     private static final Property<BubbleTextView, Float> DOT_SCALE_PROPERTY
@@ -636,11 +644,14 @@ public class BubbleTextView extends TextView implements ItemInfoUpdateReceiver,
         mDisableRelayout = mIcon != null;
 
         icon.setBounds(0, 0, mIconSize, mIconSize);
-        if (mLayoutHorizontal) {
-            setCompoundDrawablesRelative(icon, null, null, null);
-        } else {
-            setCompoundDrawables(null, icon, null, null);
+
+        updateIcon(icon);
+
+        // If the current icon is a placeholder color, animate its update.
+        if (mIcon != null && mIcon instanceof PlaceHolderIconDrawable) {
+            animateIconUpdate((PlaceHolderIconDrawable) mIcon, icon);
         }
+
         mDisableRelayout = false;
     }
 
@@ -776,4 +787,33 @@ public class BubbleTextView extends TextView implements ItemInfoUpdateReceiver,
             ((FastBitmapDrawable) mIcon).setScale(1f);
         }
     }
+
+    private void updateIcon(Drawable newIcon) {
+        if (mLayoutHorizontal) {
+            setCompoundDrawablesRelative(newIcon, null, null, null);
+        } else {
+            setCompoundDrawables(null, newIcon, null, null);
+        }
+    }
+
+    private static void animateIconUpdate(PlaceHolderIconDrawable oldIcon, Drawable newIcon) {
+        int placeholderColor = oldIcon.mPaint.getColor();
+        int originalAlpha = Color.alpha(placeholderColor);
+
+        ValueAnimator iconUpdateAnimation = ValueAnimator.ofInt(originalAlpha, 0);
+        iconUpdateAnimation.setDuration(ICON_UPDATE_ANIMATION_DURATION);
+        iconUpdateAnimation.addUpdateListener(valueAnimator -> {
+            int newAlpha = (int) valueAnimator.getAnimatedValue();
+            int newColor = ColorUtils.setAlphaComponent(placeholderColor, newAlpha);
+
+            newIcon.setColorFilter(new PorterDuffColorFilter(newColor, Mode.SRC_ATOP));
+        });
+        iconUpdateAnimation.addListener(new AnimatorListenerAdapter() {
+            @Override
+            public void onAnimationEnd(Animator animation) {
+                newIcon.setColorFilter(null);
+            }
+        });
+        iconUpdateAnimation.start();
+    }
 }
diff --git a/src/com/android/launcher3/FastBitmapDrawable.java b/src/com/android/launcher3/FastBitmapDrawable.java
index d3b86ded80..139d4a85e4 100644
--- a/src/com/android/launcher3/FastBitmapDrawable.java
+++ b/src/com/android/launcher3/FastBitmapDrawable.java
@@ -33,6 +33,8 @@ import android.graphics.Rect;
 import android.graphics.drawable.Drawable;
 import android.util.Property;
 
+import androidx.annotation.Nullable;
+
 import com.android.launcher3.graphics.PlaceHolderIconDrawable;
 import com.android.launcher3.icons.BitmapInfo;
 import com.android.launcher3.model.data.ItemInfoWithIcon;
@@ -54,6 +56,8 @@ public class FastBitmapDrawable extends Drawable {
     protected Bitmap mBitmap;
     protected final int mIconColor;
 
+    @Nullable private ColorFilter mColorFilter;
+
     private boolean mIsPressed;
     private boolean mIsDisabled;
     private float mDisabledAlpha = 1f;
@@ -115,7 +119,8 @@ public class FastBitmapDrawable extends Drawable {
 
     @Override
     public void setColorFilter(ColorFilter cf) {
-        // No op
+        mColorFilter = cf;
+        updateFilter();
     }
 
     @Override
@@ -265,7 +270,7 @@ public class FastBitmapDrawable extends Drawable {
      * Updates the paint to reflect the current brightness and saturation.
      */
     protected void updateFilter() {
-        mPaint.setColorFilter(mIsDisabled ? getDisabledColorFilter() : null);
+        mPaint.setColorFilter(mIsDisabled ? getDisabledColorFilter() : mColorFilter);
         invalidateSelf();
     }