Czech National Bank Invests in Coinbase and Palantir During Q2 2025

The Czech National Bank acquired over $18 million of Coinbase shares and increased its Palantir stake in its U.S. investment portfolio during the second quarter of 2025.

According to a Form 13F filing with the U.S. Securities and Exchange Commission (SEC), the bank initiated its first position in Coinbase Global, purchasing 51,732 shares valued at more than $18 million. It also acquired an additional 49,135 shares of Palantir in Q2.

The bank’s purchase raised its total Palantir holding to 519,950 shares by June 30, up from 470,815 at the end of Q1. Palantir’s stock climbed roughly 80% during the first half of 2025, compared to the S&P 500’s 5.5% gain during the same period.

The purchase of 51,732 Coinbase shares marked the central bank’s first direct investment in a publicly traded cryptocurrency exchange. Coinbase became the first crypto-focused company to join the S&P 500 in May. The stock rose 41% in the first half of 2025, followed by an additional 10% gain in the weeks after its index inclusion.

Coinbase’s most recent earnings report showed a 10% quarterly revenue decline to $2 billion in Q1, primarily driven by a $596 million paper loss on its own crypto holdings. Net income fell 95% to $66 million, while trading volume dropped 10.5% to $393 billion. 

The bank declined to comment on the individual holdings when asked about these equity additions. The Czech National Bank’s adjustments reflect its passive strategy of replicating the S&P 500 index, which now includes high-growth companies such as Palantir and Coinbase.