Ethereum Shapella Upgrade FAQ – Kraken

On-chain staking

An overview of eligibility criteria, including geographic restrictions, for on-chain staking can be found here.

Please note: Unstaking ETH in the Kraken iOS mobile apps will be temporarily unavailable, but will function as normal via the Kraken Pro web interface.

The Shanghai and Capella "Shapella" upgrades are a set of changes to the Ethereum protocol, that will allow you to unstake or withdraw your staked Ethereum (ETH) from Kraken.

For more information visit our blog.

Frequently asked questions:

How long will it take to Unstake my ETH2.S?

The timeframe of unstaking is variable. It may take hours or days for your ETH balance to be visible in your spot wallet.

Under Portfolio, click on the Earn tab on your account and here you will see the exact time remaining, once you initiate unstaking, under the Time remaining column. In the Portfolio tab you will also see your staked assets, pending transactions and staking history.

On the History tab you will see Unstaking in the Pending status while the staked asset is unbonding. Once the process is complete, you will see Unstaking Success, meaning your ETH has successfully been unstaked.

For immediate liquidity, Kraken provides the trading pair ETH2.S/ETH if you wish to trade your staked ETH for unstaked ETH. Please be aware that this market is not available to clients residing in Canada or the United States.

How do I unstake my ETH?

Staking and unstaking ETH is only possible via Kraken Pro.

If you would like to unstake your ETH you can do so via the Kraken Pro web experience and the Kraken Pro android app. Visit our support article for a step-by-step guide to unstake your ETH.

Please note: You will not be able to unstake ETH in the Kraken Pro iOS app as this service will be temporarily unavailable.

I am a US client. What will happen to my staked ETH?

For U.S. clients impacted by the Securities and Exchange Commission’s recent decision regarding Kraken’s on-chain staking program, once the Shapella upgrade is complete, any ETH locked in your account will automatically enter the unstaking process.

When the Ethereum protocol has completed the process, your ETH will become available in your Kraken account. The time this takes is dependent on the ETH protocol and is out of Kraken’s control.

I am a resident of Japan. What will happen to my staked ETH?

For Japanese residents, who previously had an account on Kraken, Staked ETH will be automatically unstaked after the Shapella upgrade.

Any ETH previously locked in your account will be made available in your Kraken spot wallet. We will communicate to you, in a timely manner, once ETH will be available in your spot wallet, at which point you will have 30 days to withdraw your ETH off the Kraken platform. Please be aware that the unbonding process could take time.

What happens to my ETH2?

After the Shapella upgrade is complete ETH2 will no longer exist. Any ETH2 in your account will automatically be converted to ETH. Please note that there will be a five day unbonding period before the converted balances will become available in your account.

Will the ticker name "ETH2" change to "ETH"?

Yes, since all ETH2 will be converted to ETH you will no longer see the ticker "ETH2". Instead any ETH2 that you held in your account will be visible as ETH.

What are the current rewards for staking ETH, what about after the Shapella upgrade?

Reward rates for your staked ETH are currently estimated between 4% and 7% annually (RPY). All locked ETH2 will be converted to ETH as part of the Shapella upgrade.

If you have any additional questions, our support specialists are available to help you.

On-chain staking

Frequently asked questions:

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