The Czech National Bank adjusted its U.S. investment portfolio in the second quarter of 2025 by expanding its position in Palantir Technologies and making its first foray into crypto equities through Coinbase Global.
According to a recent Form 13F filing with the U.S. Securities and Exchange Commission, the central bank added 51,732 shares of Coinbase, valued at over $18 million. It also increased its Palantir holdings by 49,135 shares, bringing the total to 519,950 shares by the end of June.
Palantir Stock Surges on AI Momentum
Palantir, a prominent data analytics company, has seen its stock soar 80% in the first half of 2025—vastly outperforming the S&P 500’s 5.5% gain. The rally has been fueled by strong earnings and mounting investor interest in artificial intelligence.
Coinbase Joins the S&P 500
Coinbase made headlines in May by becoming the first crypto-focused company to be added to the S&P 500. The index tracks the performance of 500 major U.S. publicly traded firms and serves as a benchmark for the overall stock market.
Coinbase’s stock climbed 41% in the first half of the year and gained another 10% in the weeks that followed. Over the past month alone, its shares are up roughly 60%, according to Google Finance.
Revenue Slips, But EPS Beats Expectations
Despite strong stock performance, Coinbase reported a 10% drop in total revenue in Q1, falling to $2 billion—missing industry expectations due to slower trading activity. Net income dropped 95% to $66 million, primarily driven by a $596 million unrealized loss on crypto holdings.
Transaction revenue also fell by nearly 19% to $1.26 billion, with trading volumes declining 10.5% to $393 billion. Analysts attribute part of this downturn to market pressure from trade tariffs imposed under the Trump administration. Still, earnings per share came in at $1.94, beating analyst forecasts.
Coinbase Expands Through Strategic Acquisitions
Coinbase has been aggressively expanding its footprint in both spot and derivatives markets. In May, it announced plans to acquire crypto options platform Deribit in a $2.9 billion deal.
Earlier in July, Coinbase also acquired Liquifi, a platform focused on token management and early-stage tokenization projects. The move strengthens the company’s capabilities in token cap table management, vesting, and compliance—allowing Coinbase to support token creators earlier in their development cycle.
