diff --git a/PENDING.md b/PENDING.md
index 95396eac5..fd326e8ad 100644
--- a/PENDING.md
+++ b/PENDING.md
@@ -59,3 +59,4 @@ BUG FIXES
 *  \#1804 Fixes gen-tx genesis generation logic temporarily until upstream updates
 *  \#1799 Fix `gaiad export`
 *  \#1828 Force user to specify amount on create-validator command by removing default
+*  \#1839 Fixed bug where intra-tx counter wasn't set correctly for genesis validators
diff --git a/x/stake/genesis.go b/x/stake/genesis.go
index ad3ac0af5..46bda752d 100644
--- a/x/stake/genesis.go
+++ b/x/stake/genesis.go
@@ -21,6 +21,7 @@ func InitGenesis(ctx sdk.Context, keeper Keeper, data types.GenesisState) (res [
 	keeper.InitIntraTxCounter(ctx)
 
 	for i, validator := range data.Validators {
+		validator.BondIntraTxCounter = int16(i) // set the intra-tx counter to the order the validators are presented
 		keeper.SetValidator(ctx, validator)
 
 		if validator.Tokens.IsZero() {
@@ -33,7 +34,6 @@ func InitGenesis(ctx sdk.Context, keeper Keeper, data types.GenesisState) (res [
 		// Manually set indexes for the first time
 		keeper.SetValidatorByPubKeyIndex(ctx, validator)
 
-		validator.BondIntraTxCounter = int16(i) // set the intra-tx counter to the order the validators are presented
 		keeper.SetValidatorByPowerIndex(ctx, validator, data.Pool)
 
 		if validator.Status == sdk.Bonded {
diff --git a/x/stake/genesis_test.go b/x/stake/genesis_test.go
index ec061ea3c..2febd2c6a 100644
--- a/x/stake/genesis_test.go
+++ b/x/stake/genesis_test.go
@@ -42,14 +42,16 @@ func TestInitGenesis(t *testing.T) {
 	vals, err := InitGenesis(ctx, keeper, genesisState)
 	require.NoError(t, err)
 
-	// now make sure the validators are bonded
+	// now make sure the validators are bonded and intra-tx counters are correct
 	resVal, found := keeper.GetValidator(ctx, keep.Addrs[0])
 	require.True(t, found)
 	require.Equal(t, sdk.Bonded, resVal.Status)
+	require.Equal(t, int16(0), resVal.BondIntraTxCounter)
 
 	resVal, found = keeper.GetValidator(ctx, keep.Addrs[1])
 	require.True(t, found)
 	require.Equal(t, sdk.Bonded, resVal.Status)
+	require.Equal(t, int16(1), resVal.BondIntraTxCounter)
 
 	abcivals := make([]abci.Validator, len(vals))
 	for i, val := range validators {