diff --git a/src/qt/bitcoingui.cpp b/src/qt/bitcoingui.cpp
index a43009d9542..1f78550a559 100644
--- a/src/qt/bitcoingui.cpp
+++ b/src/qt/bitcoingui.cpp
@@ -399,10 +399,9 @@ void BitcoinGUI::createActions()
             for (const std::pair<const std::string, bool>& i : m_wallet_controller->listWalletDir()) {
                 const std::string& path = i.first;
                 QString name = path.empty() ? QString("["+tr("default wallet")+"]") : QString::fromStdString(path);
-                // Menu items remove single &. Single & are shown when && is in
-                // the string, but only the first occurrence. So replace only
-                // the first & with &&.
-                name.replace(name.indexOf(QChar('&')), 1, QString("&&"));
+                // An single ampersand in the menu item's text sets a shortcut for this item.
+                // Single & are shown when && is in the string. So replace & with &&.
+                name.replace(QChar('&'), QString("&&"));
                 QAction* action = m_open_wallet_menu->addAction(name);
 
                 if (i.second) {