With the Shanghai update on Ethereum, withdrawals of ETH staked for ETH 2.0 have started.
Binance recently announced the start of withdrawals of staked ETH for Ethereum 2.0.
The announcement made by Binance is as follows:
“Dear Binance users,
Binance is pleased to announce that ETH 2.0 Staking participants will be able to withdraw ETH with 1:1 BETH holdings on the ETH 2.0 staking page from 19-04-2023 08:00 (UTC).
Users cannot cancel ETH withdrawal after submitting a request.
It may take several weeks for users’ ETH withdrawal requests to be fully processed. The time required to process ETH withdrawal requests is determined by the total amount of ETH withdrawals requested by the Ethereum network.
The expected distribution date of cashed ETH will be displayed before users approve withdrawal requests. Users can refer to the most recent ETH distribution date in Staking History.
When the ETH withdrawal request is processed, the ETHs will be returned to the users spot wallet.
Due to limitations on the Ethereum network, Binance will set a daily ETH quota for each Binance user.
Users can continue to participate in ETH 2.0 Staking at any time and earn BETH rewards.”