Is there a way to add a fade animation to a hover state?

Basically looking for exactly what the title implies. I have an image in black and white and the hover state for that black and white image is the exact same image but in colour. I'd like the colour to gently fade in when you hover the mouse over the image and fade back to black and white as the mouse moves away but can't seem to add such a thing via the animations tab, is there any other way to do this or am I just doing something wrong?

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