Today, Apple has released iOS 26.2.1 and iPadOS 26.2.1. While these are minor incremental versions of the software as the numbers imply, they do bring one significant new feature to both iPhones and iPads.
That is support for Apple’s second-generation AirTag tracker, which was announced today. This comes with a new UWB chip, which supports Precision Finding. That can guide you to your tracked item from 50% farther away. The new AirTag also has an upgraded Bluetooth chip, with expanded range, and a 50% louder speaker.

And with iOS 26.2.1 and iPadOS 26.2.1, you can now control the second-gen AirTag. Aside from this, the new software release also brings with it some unspecified bug fixes too, according to the official release notes.
To install the new release, just go to Settings > General > Software Update on your eligible iPhone or iPad and the download should start immediately.