Czech National Bank Buys $18.1 Million Coinbase Shares

The Czech National Bank (CNB) has expanded its cryptocurrency portfolio by purchasing $18.1 million worth of Coinbase shares during the second quarter of 2025. This acquisition marks the central bank's first disclosed stake in the major crypto exchange, with 51,732 shares acquired. As of the end of June, these shares were valued at $18.1 million, and their value has since increased to nearly $20 million based on recent closing prices.

The move by the CNB reflects a growing openness toward digital assets and a strategy to diversify its reserve holdings. Earlier this year, Governor Aleš Michl expressed intentions to consider expanding the central bank’s portfolio to include bitcoin and other crypto-related assets. Michl mentioned that the CNB may allocate up to 5% of its €140 billion ($163.5 billion) reserves into Bitcoin, pending board approval. This recent purchase of Coinbase shares aligns with the broader push toward integrating crypto assets into traditional finance.

Coinbase, which made history by becoming the first crypto company added to the S&P 500 index in May 2025, has seen its stock rise sharply this year. Despite a challenging first quarter marked by a 10% drop in revenue and a 95% plunge in net income, largely driven by a $596 million paper loss on crypto holdings, the company’s shares have rebounded. Year-to-date, Coinbase stock is up nearly 56%, fueled by a strong rally in crypto markets and the company’s aggressive expansion efforts.

In recent months, Coinbase has been actively increasing its market presence. The exchange announced its $2.9 billion acquisition of Deribit, a leading crypto derivatives platform, in May. More recently, Coinbase acquired Liquifi, a token management platform that bolsters its capabilities in token cap table management, vesting, and regulatory compliance. These strategic acquisitions have further solidified Coinbase's position in the crypto market.

Coinbase has also been recognized for its significant role in shaping digital asset policies and markets. TIME has labeled the crypto exchange a “disruptor” for its aggressive advocacy in Washington and its expanding influence in the crypto sector. The accolade highlights Coinbase’s role as a key driver behind the industry’s policy efforts and predicts that Coinbase could become the central hub for crypto trading in the US. Beyond the US, Coinbase is broadening its reach in Europe, securing a license under the EU’s MiCA regulatory framework through Luxembourg’s financial regulator. The company plans to establish its European headquarters in Luxembourg and is seeking SEC approval to offer tokenized equities, positioning it as a competitor to popular retail trading platforms.