What happens to my ETH when ETH 2.0 comes out?

So, I'm curious about what exactly happens to my existing Ether, or ETH, when the long-awaited ETH 2.0 upgrade rolls out? Will my current ETH holdings automatically convert to the new version, or will I need to take some sort of action? And what about the potential benefits and drawbacks of this transition? As a holder of ETH, I want to ensure that I'm fully prepared and understand the implications of this significant upgrade in the world of cryptocurrency.