The Czech National Bank has made strategic adjustments to its investment portfolio in the second quarter of 2025. In a notable move, the bank has significantly increased its stake in Palantir Technologies, a leader in data analytics, while also entering the cryptocurrency space by acquiring shares of Coinbase Global.
According to a Form 13F filing, which is a quarterly report that investment managers file with the Securities and Exchange Commission to disclose their US equity holdings, the Czech National Bank added 51,732 shares of Coinbase, valued at over $18 million. Additionally, the bank purchased 49,135 shares of Palantir in Q2, resulting in a total holding of 519,950 shares by the end of June.
Palantir has seen an impressive stock surge, boasting an 80% increase in the first half of 2025, significantly outpacing the S&P 500’s mere 5.5% gain. This growth can be attributed to robust earnings reports and a rising interest in artificial intelligence capabilities. The strong performance of Palantir has prompted the Czech National Bank to bolster its investment during a transformative time for tech stocks.
On the other hand, Coinbase made headlines earlier this year by becoming the first cryptocurrency exchange to join the S&P 500, a significant milestone for the cryptocurrency industry. Although Coinbase’s stock surged by 41% in the first half of the year and recorded an additional 10% gain thereafter, the company faced challenges, including a 10% drop in total revenue to $2 billion in Q1. This decline reflects decreasing trading activities across the market.
Moreover, Coinbase’s net income saw a dramatic plunge of 95% to just $66 million, primarily due to a substantial $596 million paper loss on its crypto holdings. The trading volume was down by 10.5%, which highlights the shrinking crypto market, influenced in part by economic factors like tariffs from the previous administration.
Despite these financial hurdles, Coinbase is not standing still. The firm has been actively expanding its market share by acquiring new platforms. Recently, it announced the acquisition of the crypto options trading platform Deribit for $2.9 billion. This strategic move is likely to enhance Coinbase’s capabilities in the fast-evolving crypto trading environment.
In addition, Coinbase has taken steps to improve its services by purchasing Liquifi, a platform specializing in early-stage token management. This strategic acquisition aims to streamline token cap table management, vesting, and compliance, thus supporting creators at earlier stages of their tokenization projects. As the crypto landscape continues to evolve, Coinbase’s adaptation strategies may prove essential for capturing market opportunities.
