The Czech National Bank (CNB) has expanded its cryptocurrency exposure by purchasing $18.1 million worth of Coinbase shares during the second quarter of 2025.
According to a recent Form 13F filing with the U.S. Securities and Exchange Commission, the central bank acquired 51,732 shares of Coinbase Global, marking its first disclosed stake in the major crypto exchange.
Earlier this year, Governor Aleš Michl expressed intentions to consider expanding the central bank’s portfolio to include bitcoin and other crypto-related assets. Michl told the Financial Times that the CNB may allocate up to 5% of its €140 billion ($163.5 billion) reserves into Bitcoin, pending board approval.
The move reflects the CNB’s growing openness toward digital assets and its ambition to diversify reserve holdings.
Despite a challenging first quarter marked by a 10% drop in revenue and a 95% plunge in net income, largely driven by a $596 million paper loss on crypto holdings, the company’s shares have rebounded.
Coinbase, which made history by becoming the first crypto company added to the S&P 500 index in May 2025, has seen its stock rise sharply this year.
The exchange announced its $2.9 billion acquisition of Deribit, a leading crypto derivatives platform, in May. More recently, Coinbase acquired Liquifi, a token management platform that bolsters its capabilities in token cap table management, vesting, and regulatory compliance.
Year-to-date, Coinbase stock is up nearly 56%, fueled by a strong rally in crypto markets and the company’s aggressive expansion efforts.
The accolade highlights Coinbase’s aggressive advocacy in Washington and its expanding influence in the crypto sector. Coinbase’s stock has surged 42% year-to-date, climbing from around $303 to a high near $382.
TIME has recognized Coinbase as one of 2025’s 100 Most Influential Companies, labeling the crypto exchange a “disruptor” for its significant role in shaping US digital asset policies and markets.
