diff --git a/Cargo.toml b/Cargo.toml
index d522d4eff3c..0d88dd62c38 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -50,6 +50,7 @@ futures-executor = "0.3.29"
 
 hyper = "0.14.27"
 tokio = "1.33"
+tokio-util = "0.7"
 tower = { version = "0.4.13", features = ["util"] }
 
 tracing = "0.1.40"
diff --git a/crates/transport-ipc/Cargo.toml b/crates/transport-ipc/Cargo.toml
index 8a98337e51e..0ee14eb4aba 100644
--- a/crates/transport-ipc/Cargo.toml
+++ b/crates/transport-ipc/Cargo.toml
@@ -20,6 +20,7 @@ futures.workspace = true
 pin-project.workspace = true
 serde_json.workspace = true
 tokio.workspace = true
+tokio-util = { workspace = true, features = ["io", "compat"]}
 tracing.workspace = true
 
 bytes = "1.5.0"
diff --git a/crates/transport-ipc/src/lib.rs b/crates/transport-ipc/src/lib.rs
index fe550ca1938..fa94430b20a 100644
--- a/crates/transport-ipc/src/lib.rs
+++ b/crates/transport-ipc/src/lib.rs
@@ -23,13 +23,12 @@ pub mod mock;
 #[cfg(feature = "mock")]
 pub use mock::MockIpcServer;
 
-use std::task::Poll::{Pending, Ready};
-
-use alloy_json_rpc::PubSubItem;
 use bytes::{Buf, BytesMut};
-use futures::{io::BufReader, ready, AsyncBufRead, AsyncRead, AsyncWriteExt, StreamExt};
+use futures::{ready, AsyncRead, AsyncWriteExt, StreamExt};
 use interprocess::local_socket::{tokio::LocalSocketStream, ToLocalSocketName};
+use std::task::Poll::Ready;
 use tokio::select;
+use tokio_util::compat::FuturesAsyncReadCompatExt;
 
 type Result<T> = std::result::Result<T, std::io::Error>;
 
@@ -113,11 +112,11 @@ impl IpcBackend {
 pub struct ReadJsonStream<T> {
     /// The underlying reader.
     #[pin]
-    reader: BufReader<T>,
-    /// A buffer of bytes read from the reader.
+    reader: tokio_util::compat::Compat<T>,
+    /// A buffer for reading data from the reader.
     buf: BytesMut,
-    /// A buffer of items deserialized from the reader.
-    items: Vec<PubSubItem>,
+    /// Whether the buffer has been drained.
+    drained: bool,
 }
 
 impl<T> ReadJsonStream<T>
@@ -125,7 +124,7 @@ where
     T: AsyncRead,
 {
     fn new(reader: T) -> Self {
-        Self { reader: BufReader::new(reader), buf: BytesMut::with_capacity(4096), items: vec![] }
+        Self { reader: reader.compat(), buf: BytesMut::with_capacity(4096), drained: true }
     }
 }
 
@@ -148,57 +147,53 @@ where
         self: std::pin::Pin<&mut Self>,
         cx: &mut std::task::Context<'_>,
     ) -> std::task::Poll<Option<Self::Item>> {
-        let this = self.project();
+        use tokio_util::io::poll_read_buf;
 
-        // Deserialize any buffered items.
-        if !this.buf.is_empty() {
-            this.reader.consume(this.buf.len());
+        let mut this = self.project();
 
-            tracing::debug!(buf_len = this.buf.len(), "Deserializing buffered IPC data");
-            let mut de = serde_json::Deserializer::from_slice(this.buf.as_ref()).into_iter();
+        loop {
+            // try decoding from the buffer, but only if we have new data
+            if !*this.drained {
+                tracing::debug!(buf_len = this.buf.len(), "Deserializing buffered IPC data");
+                let mut de = serde_json::Deserializer::from_slice(this.buf.as_ref()).into_iter();
 
-            let item = de.next();
-            match item {
-                Some(Ok(response)) => {
-                    this.items.push(response);
-                }
-                Some(Err(e)) => {
-                    tracing::error!(%e, "IPC response contained invalid JSON. Buffer contents will be logged at trace level");
-                    tracing::trace!(
-                        buffer = %String::from_utf8_lossy(this.buf.as_ref()),
-                        "IPC response contained invalid JSON. NOTE: Buffer contents do not include invalid utf8.",
-                    );
+                let item = de.next();
 
-                    return Ready(None);
+                // advance the buffer
+                this.buf.advance(de.byte_offset());
+
+                match item {
+                    Some(Ok(response)) => {
+                        return Ready(Some(response));
+                    }
+                    Some(Err(e)) => {
+                        tracing::error!(%e, "IPC response contained invalid JSON. Buffer contents will be logged at trace level");
+                        tracing::trace!(
+                            buffer = %String::from_utf8_lossy(this.buf.as_ref()),
+                            "IPC response contained invalid JSON. NOTE: Buffer contents do not include invalid utf8.",
+                        );
+
+                        return Ready(None);
+                    }
+                    None => {
+                        // nothing decoded
+                        *this.drained = true;
+                    }
                 }
-                None => {}
             }
-            this.buf.advance(de.byte_offset());
-            cx.waker().wake_by_ref();
-            return Pending;
-        }
-
-        // Return any buffered items, rewaking.
-        if !this.items.is_empty() {
-            // may have more work!
-            cx.waker().wake_by_ref();
-            return Ready(this.items.pop());
-        }
 
-        tracing::debug!(buf_len = this.buf.len(), "Polling IPC socket for data");
+            // read more data into the buffer
+            match ready!(poll_read_buf(this.reader.as_mut(), cx, &mut this.buf)) {
+                Ok(data_len) => {
+                    tracing::debug!(%data_len, "Read data from IPC socket");
 
-        let data = ready!(this.reader.poll_fill_buf(cx));
-        match data {
-            Err(e) => {
-                tracing::error!(%e, "Failed to read from IPC socket, shutting down");
-                Ready(None)
-            }
-            Ok(data) => {
-                tracing::debug!(data_len = data.len(), "Read data from IPC socket");
-                this.buf.extend_from_slice(data);
-                // wake task to run deserialization
-                cx.waker().wake_by_ref();
-                Pending
+                    // can try decoding again
+                    *this.drained = false;
+                }
+                Err(e) => {
+                    tracing::error!(%e, "Failed to read from IPC socket, shutting down");
+                    return Ready(None);
+                }
             }
         }
     }