The Czech National Bank made some changes to its US investment portfolio in the second quarter, notably by increasing its stake in Palantir Technologies and initiating a position in Cryptocurrency Exchange Coinbase Global.
These adjustments were detailed in the Form 13F filing, a quarterly report that investment managers submit to the Securities and Exchange Commission, revealing their US stock holdings.
The filing reveals that the bank has acquired 51,732 shares of Coinbase, valued at over $18 million. Additionally, it purchased 49,135 shares of Palantir during the second quarter, resulting in a total of 519,950 shares by the end of June.
Palantir, known for its data analytics, saw its shares surge by 80% in the first half of 2025, considerably outpacing the S&P 500’s modest increase of 5.5%. The company’s strong revenue reports and the rising interest in artificial intelligence have contributed to this growth.
Coinbase joins the S&P 500
In May, Coinbase made history as the first cryptocurrency firm to be included in the S&P 500, an index tracking the performance of 500 of the largest public companies in the US, reflecting a broad representation of the market.
The company’s stock climbed 41% in the first half of 2025, with an additional 10% increase the week after. Over the past month, shares have witnessed a rise of approximately 60%, according to data from Google Finance.
However, Coinbase experienced a downturn in total revenue, which dropped to $2 billion per quarter in the first quarter, sparking concerns as trading slowed across the industry. The net profit took a significant hit, plummeting from 95% down to $66 million, primarily due to significant losses of $596 million related to crypto holdings.
Transaction revenue also fell by 18.9%, totaling $1.26 billion, mirroring a contracting crypto market influenced by previous tariffs during the Trump administration. Trading volume decreased by 10.5% to $393 million. Despite this, earnings per share of $1.94 beat analyst forecasts.
Coinbase expands its crypto influence
In an effort to boost its market share in spots and derivatives trading, Coinbase is pursuing new acquisitions. In May, the firm announced it would acquire the Crypto Options Trading Platform Deribit, a deal valued at $2.9 billion.
Earlier this month, Coinbase also acquired Liquifi, a platform focused on token management for early-stage tokenization projects. This acquisition will enhance its capabilities in managing token cap tables, compliance, and vesting, which will support token creators early in their development phases.
