The Czech National Bank entered crypto markets by buying $18M in Coinbase stock, signaling a shift toward digital asset exposure.
Despite a 95% profit drop, Coinbase surged 60% in a month, fueled by S&P 500 inclusion and major acquisitions in derivatives and tokenization.
CNB's Coinbase purchase follows plans to diversify reserves, possibly allocating up to 5% of its €140B holdings into Bitcoin.
The Czech National Bank (CNB) has made its first direct investment in crypto stock. The central bank purchased 51,732 Coinbase shares, valued at over $18 million, in Q2 2025. Besides Coinbase, the CNB increased its Palantir stake by adding 49,135 shares, bringing its total to 519,950. The disclosure came via a mandatory Form 13F filing with the U.S. Securities and Exchange Commission.
Coinbase Sees Growth Despite Revenue Dip
Coinbase’s stock has seen strong performance in 2025. It surged 41% in the first half of the year. Additionally, the stock gained another 10% in recent weeks and is now up nearly 60% over the past month. The company also joined the S&P 500 in May.
However, the exchange faced some financial setbacks. Total Q1 revenue dropped 10% quarter-over-quarter to $2 billion. Net income fell 95% to $66 million due to a $596 million unrealized loss on crypto holdings. Trading volumes declined by 10.5% to $393 billion. Moreover, transaction revenue dropped 18.9% to $1.26 billion. Despite these figures, the company still beat analyst expectations with earnings per share at $1.94.
Coinbase Expands Through Strategic Acquisitions
Coinbase continues to invest in growth and innovation. In May, it agreed to acquire Deribit, a major crypto options trading platform, for $2.9 billion. This strengthens its position in the growing derivatives market. Earlier this month, Coinbase also acquired Liquifi, a token management firm. This boosts its capabilities in managing token vesting, compliance, and early-stage crypto projects.
The CNB’s investment signals broader ambitions. In January, the central bank approved a plan to explore new asset classes, including bitcoin. Governor Aleš Michl revealed the bank may allocate up to 5% of its €140 billion reserves to bitcoin. Hence, this Coinbase investment could be the first of many as CNB diversifies its portfolio.
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