Library · Crypto, word by word · Inside Ethereum
What was the Shapella upgrade?
Shapella was the Ethereum upgrade of April 12, 2023 that let stakers withdraw their ETH from the Beacon Chain for the first time. Its name joins Shanghai, the change to the execution layer, and Capella, the change to the consensus layer.
What it means for you
Before Shapella, ETH deposited for staking could not be taken out at all. Since then a validator's rewards and stake can be withdrawn, which is what lets liquid staking tokens and staking services promise redemption, subject to the network's exit queue.
How it works
Staking began on the Beacon Chain in December 2020, two years before the Merge joined it to Ethereum's main chain, and deposits were one-way until this upgrade. Shapella enabled blocks to carry withdrawal operations, moving ETH from the Beacon Chain to the execution layer: rewards above the stake are paid out automatically, and a validator that exits receives its whole balance. Exits pass through a queue limited per epoch, so a rush to leave is spread over time.
Source: ethereum.org: The history of Ethereum (Shapella) · checked 5 October 2026
Related words
Educational content, not financial advice. Written by hand and checked against the source named above. Something wrong? Tell us and we reply within two business days.