Czech National Bank Enters Crypto Market, Boosts Palantir Stake by 10%

The Czech National Bank has made notable adjustments to its US investment portfolio in the second quarter, marking its entry into the cryptocurrency market and increasing its stake in Palantir Technologies. The bank disclosed these changes in a Form 13F filing, which is a quarterly report submitted to the Securities and Exchange Commission detailing US equity holdings.

The bank acquired 51,732 shares of Coinbase Global, valued at over $18 million, and added 49,135 shares of Palantir Technologies, bringing its total holdings in the data analytics firm to 519,950 shares by the end of June. Palantir's stock has seen a substantial surge, increasing by 80% in the first half of 2025, outperforming the S&P 500’s 5.5% gain. This performance is attributed to strong earnings reports and growing investor interest in artificial intelligence.

Coinbase, the first cryptocurrency company to join the S&P 500 in May, has also experienced significant stock growth. Its shares rose by 41% in the first half of 2025 and gained an additional 10% in the following weeks. Despite a 10% quarter-over-quarter drop in total revenue to $2 billion in Q1, Coinbase's net income plummeted 95% to $66 million, largely due to a $596 million paper loss on its crypto holdings. Transaction revenue also declined 18.9% to $1.26 billion, with trading volumes down 10.5% to $393 billion, reflecting a shrinking crypto market. However, earnings per share of $1.94 surpassed analyst estimates.

Coinbase has been actively expanding its market share in spot and derivatives trading through strategic acquisitions. In May, the company agreed to acquire the crypto options trading platform Deribit in a $2.9 billion transaction. Earlier this month, Coinbase purchased Liquifi, a token management platform specializing in early-stage tokenization projects. This acquisition enhances Coinbase’s token cap table management, vesting, and compliance capabilities, enabling it to support token creators earlier in their development.