Czech National Bank Buys $18.1 Million in Coinbase Shares, Stock Gains 60%

The Czech National Bank (CNB) has made a notable entry into the cryptocurrency market by purchasing 51,732 shares of Coinbase, valued at approximately $18.1 million at the end of June. This acquisition, disclosed in a Q2 Form 13F filing, marks the central bank's first direct investment in the crypto exchange market, signaling a strategic shift in its portfolio management. The shares have since appreciated in value to around $20 million, reflecting the growing institutional interest in the digital asset space.

This move by the CNB is part of a broader trend where traditional financial institutions are increasingly exploring and investing in cryptocurrencies, recognizing their potential as a new asset class. The investment in Coinbase is not only a bet on the future of cryptocurrencies but also on the technological advancements and innovation that Coinbase represents. Coinbase, one of the leading cryptocurrency exchanges, has been at the forefront of developing user-friendly platforms and regulatory compliance measures, making it an attractive investment for institutions looking to enter the crypto market.

The CNB's investment in Coinbase is a clear indication of the growing acceptance and legitimacy of cryptocurrencies within the traditional financial sector. It also highlights the potential for further institutional investments in the crypto space, as more central banks and financial institutions recognize the value and opportunities presented by digital assets. The CNB's move could pave the way for other central banks to follow suit, leading to increased institutional participation and liquidity in the crypto market.

This investment by the CNB is part of a broader strategy to diversify its portfolio to include new and emerging asset classes. This diversification aims to mitigate risks and capitalize on the growth potential of innovative technologies. By investing in Coinbase, the CNB is positioning itself to benefit from the long-term growth of the cryptocurrency market while also supporting the development of the digital asset ecosystem.

Coinbase has seen strong performance in 2025, with its stock surging 41% in the first half of the year and gaining another 10% in recent weeks, bringing its total increase to nearly 60% over the past month. The company also joined the S&P 500 in May. Despite a 10% drop in total Q1 revenue to $2 billion and a 95% fall in net income to $66 million due to a $596 million unrealized loss on crypto holdings, Coinbase still beat analyst expectations with earnings per share at $1.94.

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, strengthening its position in the growing derivatives market. Earlier this month, Coinbase also acquired Liquifi, a token management firm, boosting 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.