The Czech National Bank adjusted its US investment portfolio in the second quarter by increasing its stake in Palantir Technologies and initiating a new position in cryptocurrency exchange Coinbase Global.
These moves were disclosed in a Form 13F filing, which is a quarterly report filed by investment managers to the Securities and Exchange Commission that discloses their US equity holdings.
The filing shows the bank has added 51,732 Coinbase shares, worth over $18 million. The Czech National Bank also added 49,135 Palantir shares in the second quarter of the year, bringing its total to 519,950 by the end of June.
Palantir, a data analytics firm, saw its stock surge 80% in the first half of 2025, outperforming the S&P 500’s 5.5% gain. The company has benefited from strong earnings reports and growing investor interest in artificial intelligence.
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Coinbase joins S&P 500
Coinbase became the first crypto company to join the S&P 500 in May. The S&P 500 is a stock market index that tracks the performance of 500 of the largest, publicly traded companies in the US, representing a broad measure of the overall US stock market.
The company’s stock rose 41% in the first half of 2025 and gained an additional 10% in the following weeks. The exchange’s shares are also up by around 60% over the past month, according to data from Google Finance.
Coinbase shares gain 60% in one month. Source: Google Finance
Meanwhile, Coinbase’s total revenue dropped 10% quarter-over-quarter to $2 billion in Q1, missing industry expectations as trading activity slowed across the market. The company’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 partly impacted by tariffs under the Trump administration. Despite this, earnings per share of $1.94 surpassed analyst estimates.
Related: Coinbase unlocks off-exchange settlement for institutions amid ‘high’ demand
Coinbase expands crypto footprint
Coinbase has been expanding its market share in spot and derivatives trading with new acquisitions. In May, the firm announced that it had agreed to acquire the crypto options trading platform Deribit in a transaction worth $2.9 billion.
Earlier this month, the company purchased Liquifi, a token management platform specializing in early-stage tokenization projects. The move enhances Coinbase’s token cap table management, vesting, and compliance capabilities, enabling it to support token creators earlier in their development.
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