The ENSv2 activation proposal plans to stop new registrations for ENSv1, and existing .eth holders have no migration deadline

The proposal for the activation of ENSv2 for Ethereum Name Service (ENS) states that after the official launch of ENSv2, new registrations for ENSv1 will cease, while existing .eth domain holders will not face a migration deadline and can continue to retain and use their registered domains.

The proposal also arranges for ENS Labs to transfer its remaining management roles for ENSv2 to the ENS DAO, handing over the relevant management authority to the community.