There is no special release button to remove the bit, it just requires some force to remove it.
Milwaukee Shockwave Impact Duty Magnetic Bit Tip Holder, 2.36in., 1/4in. Hex, Model# 48-32-4502

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- Use with Milwaukee SHOCKWAVE Impact Duty™ Insert Bits
- Proprietary steel and heat treat process for maximum strength and durability and durability
- Magnet holds fasteners to the drive guide
- C-ring retains the insert bit
- Custom alloy 76 steel maximizes resistance to wear and shock
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