What happened: The San Francisco 49ers have held trade discussions throughout Day 2 of the 2026 NFL Draft for their No. 33 overall pick, the first selection of Round 2. No offer has been enticing enough to accept, according to Adam Schefter. This comes after they traded the No. 27 pick for later selections including Nos. 90 and 179.

Why it matters: Kyle Shanahan and John Lynch have emphasized loving the No. 33 spot and targeting a specific player there. Holding firm allows them to address roster needs directly or accumulate more picks. It reflects a selective draft strategy amid ongoing Round 2 action.

What to watch: Monitor if a trade materializes before No. 33 or who the 49ers select.