diff --git a/src/components/MessageList/hooks/VirtualizedMessageList/useGiphyPreview.ts b/src/components/MessageList/hooks/VirtualizedMessageList/useGiphyPreview.ts
index e2bc3de573..6e67f1890b 100644
--- a/src/components/MessageList/hooks/VirtualizedMessageList/useGiphyPreview.ts
+++ b/src/components/MessageList/hooks/VirtualizedMessageList/useGiphyPreview.ts
@@ -30,8 +30,10 @@ export const useGiphyPreview = <
 
     if (separateGiphyPreview) client.on('message.new', handleEvent);
     return () => client.off('message.new', handleEvent);
-    // eslint-disable-next-line react-hooks/exhaustive-deps
-  }, [separateGiphyPreview]);
+  }, [client, separateGiphyPreview]);
 
-  return { giphyPreviewMessage, setGiphyPreviewMessage };
+  return {
+    giphyPreviewMessage,
+    setGiphyPreviewMessage: separateGiphyPreview ? setGiphyPreviewMessage : undefined,
+  };
 };
diff --git a/src/components/MessageList/hooks/__tests__/useGiphyPreview.test.js b/src/components/MessageList/hooks/__tests__/useGiphyPreview.test.js
new file mode 100644
index 0000000000..ae6931a4bf
--- /dev/null
+++ b/src/components/MessageList/hooks/__tests__/useGiphyPreview.test.js
@@ -0,0 +1,92 @@
+import React from 'react';
+import { act } from '@testing-library/react';
+import { renderHook } from '@testing-library/react-hooks';
+import {
+  dispatchMessageNewEvent,
+  generateMessage,
+  generateUser,
+  getTestClientWithUser,
+} from '../../../../mock-builders';
+
+import { useGiphyPreview } from '../VirtualizedMessageList';
+import { ChatProvider } from '../../../../context';
+
+const me = generateUser();
+const otherUser = generateUser();
+
+const ownGiphyMessage = generateMessage({ command: 'giphy', user: me });
+const foreignGiphyMessage = generateMessage({ command: 'giphy', user: otherUser });
+const ownNonGiphyMessage = generateMessage({ user: me });
+const foreignNonGiphyMessage = generateMessage({ user: otherUser });
+
+const render = ({ client, separateGiphyPreview }) => {
+  const wrapper = ({ children }) => <ChatProvider value={{ client }}>{children}</ChatProvider>;
+  return renderHook(() => useGiphyPreview(separateGiphyPreview), { wrapper });
+};
+describe('useGiphyPreview', () => {
+  it('does not expose setGiphyPreviewMessage function if separateGiphyPreview is disabled', async () => {
+    const client = await getTestClientWithUser(me);
+    const { result } = render({ client, separateGiphyPreview: false });
+    expect(result.current.giphyPreviewMessage).toBeUndefined();
+    expect(result.current.setGiphyPreviewMessage).toBeUndefined();
+  });
+
+  it('exposes setGiphyPreviewMessage function if separateGiphyPreview is enabled', async () => {
+    const client = await getTestClientWithUser(me);
+    const { result } = render({ client, separateGiphyPreview: true });
+    expect(result.current.giphyPreviewMessage).toBeUndefined();
+    expect(result.current.setGiphyPreviewMessage).toStrictEqual(expect.any(Function));
+  });
+
+  it('unsets giphy preview with new own giphy message when separateGiphyPreview is enabled', async () => {
+    const client = await getTestClientWithUser(me);
+    const { result } = render({ client, separateGiphyPreview: true });
+    await act(() => {
+      result.current.setGiphyPreviewMessage(ownGiphyMessage);
+    });
+    expect(result.current.giphyPreviewMessage.id).toBe(ownGiphyMessage.id);
+    await act(() => {
+      dispatchMessageNewEvent(client, ownGiphyMessage);
+    });
+    expect(result.current.giphyPreviewMessage).toBeUndefined();
+  });
+
+  it('does not unset giphy preview with new foreign giphy message when separateGiphyPreview is enabled', async () => {
+    const client = await getTestClientWithUser(me);
+    const { result } = render({ client, separateGiphyPreview: true });
+    await act(() => {
+      result.current.setGiphyPreviewMessage(ownGiphyMessage);
+    });
+    expect(result.current.giphyPreviewMessage.id).toBe(ownGiphyMessage.id);
+    await act(() => {
+      dispatchMessageNewEvent(client, foreignGiphyMessage);
+    });
+    expect(result.current.giphyPreviewMessage.id).toBe(ownGiphyMessage.id);
+  });
+
+  it('does not unset giphy preview with new own non-giphy message when separateGiphyPreview is enabled', async () => {
+    const client = await getTestClientWithUser(me);
+    const { result } = render({ client, separateGiphyPreview: true });
+    await act(() => {
+      result.current.setGiphyPreviewMessage(ownGiphyMessage);
+    });
+    expect(result.current.giphyPreviewMessage.id).toBe(ownGiphyMessage.id);
+    await act(() => {
+      dispatchMessageNewEvent(client, ownNonGiphyMessage);
+    });
+    expect(result.current.giphyPreviewMessage.id).toBe(ownGiphyMessage.id);
+  });
+
+  it('does not unset giphy preview with new foreign non-giphy message when separateGiphyPreview is enabled', async () => {
+    const client = await getTestClientWithUser(me);
+    const { result } = render({ client, separateGiphyPreview: true });
+    await act(() => {
+      result.current.setGiphyPreviewMessage(ownGiphyMessage);
+    });
+    expect(result.current.giphyPreviewMessage.id).toBe(ownGiphyMessage.id);
+    await act(() => {
+      dispatchMessageNewEvent(client, foreignNonGiphyMessage);
+    });
+    expect(result.current.giphyPreviewMessage.id).toBe(ownGiphyMessage.id);
+  });
+});