diff --git a/docs/changelog/102848.yaml b/docs/changelog/102848.yaml
new file mode 100644
index 0000000000000..971d91a878579
--- /dev/null
+++ b/docs/changelog/102848.yaml
@@ -0,0 +1,5 @@
+pr: 102848
+summary: Decref `SharedBytes.IO` after read is done not before
+area: Snapshot/Restore
+type: bug
+issues: []
diff --git a/x-pack/plugin/blob-cache/src/main/java/org/elasticsearch/blobcache/shared/SharedBlobCacheService.java b/x-pack/plugin/blob-cache/src/main/java/org/elasticsearch/blobcache/shared/SharedBlobCacheService.java
index 2b6521c2454fb..8c410591e2b6a 100644
--- a/x-pack/plugin/blob-cache/src/main/java/org/elasticsearch/blobcache/shared/SharedBlobCacheService.java
+++ b/x-pack/plugin/blob-cache/src/main/java/org/elasticsearch/blobcache/shared/SharedBlobCacheService.java
@@ -915,7 +915,7 @@ void populateAndRead(
                 final List<SparseFileTracker.Gap> gaps = tracker.waitForRange(
                     rangeToWrite,
                     rangeToRead,
-                    ActionListener.runBefore(listener, resource::close).delegateFailureAndWrap((l, success) -> {
+                    ActionListener.runAfter(listener, resource::close).delegateFailureAndWrap((l, success) -> {
                         var ioRef = io;
                         assert regionOwners.get(ioRef) == this;
                         final int start = Math.toIntExact(rangeToRead.start());