Czech National Bank Boosts Palantir and Coinbase Stakes in Q2 Investment Portfolio

• Czech National Bank bought $18 million worth of Coinbase shares and increased its Palantir holdings to 519,950 in Q2 2025. 

• Coinbase became the first crypto company to join the S&P 500 in May, and its stock gained 41% in the first half of 2025. 

• The exchange acquired Deribit for $2.9 billion and purchased Liquifi to expand its trading capabilities despite Q1 revenue dropping 10%.

The Czech National Bank has significantly expanded its US equity holdings by adding cryptocurrency exchange Coinbase Global to its investment portfolio while increasing its position in data analytics firm Palantir Technologies during the second quarter of 2025.

According to a Form 13F filing submitted to the Securities and Exchange Commission, the central bank acquired 51,732 Coinbase shares valued at over $18 million. The bank also purchased an additional 49,135 Palantir shares, bringing its total holdings to 519,950 shares by the end of June.

The strategic moves come as both companies demonstrate strong market performance. Palantir’s stock surged 80% in the first half of 2025, substantially outperforming the S&P 500’s 5.5% gain. The company has benefited from robust earnings reports and increased investor interest in artificial intelligence applications.

Coinbase Makes S&P 500 History

Coinbase achieved a significant milestone in May by becoming the first cryptocurrency company to join the S&P 500 index. The inclusion represents a major validation for the cryptocurrency industry and positions Coinbase among the 500 largest publicly traded companies in the United States.

The cryptocurrency exchange’s stock rose 41% during the first half of 2025, with an additional 10% gain in subsequent weeks. Market data shows Coinbase shares have climbed approximately 60% over the past month, reflecting strong investor confidence despite mixed quarterly results.

However, the company’s Q1 2025 financial performance presented challenges. Total revenue declined 10% quarter-over-quarter to $2 billion, falling short of industry expectations as trading activity slowed across cryptocurrency markets. Net income dropped 95% to $66 million, primarily due to a $596 million paper loss on the company’s crypto holdings.

Transaction revenue decreased 18.9% to $1.26 billion, while trading volumes fell 10.5% to $393 billion. The decline reflects broader market conditions partly influenced by tariffs implemented under the Trump administration. Despite revenue challenges, earnings per share of $1.94 exceeded analyst estimates.

Strategic Acquisitions Drive Market Expansion

Coinbase continues expanding its cryptocurrency trading capabilities through strategic acquisitions. In May, the company announced an agreement to acquire crypto options trading platform Deribit for $2.9 billion, strengthening its derivatives trading offerings.

The exchange further enhanced its services by purchasing Liquifi, a token management platform specializing in early-stage tokenization projects. This acquisition improves Coinbase’s token cap table management, vesting, and compliance capabilities, enabling support for token creators during earlier development phases.

These moves position Coinbase to capture greater market share in spot and derivatives trading as the cryptocurrency sector evolves. The Czech National Bank’s investment signals institutional confidence in the crypto ecosystem’s long-term growth potential.