In order to support ETH 2.0’s proof-of-stake mechanism and improve the liquidity of staking, several exchanges have issued a token that is anchored to the on-chain staked asset for participants on the respective exchanges. BETH will be the only proof that users can redeem ETH at a ratio of 1:1. Note that these are tokenized versions created by exchanges, they should not be withdrawable, but if they are, they should not be sent to other exchanges without confirming that they are compatible.