The Czech National Bank’s Q2 US Investment Adjustments

The Czech National Bank disclosed adjustments to its US investment portfolio in Q2, highlighted by increased stakes in Palantir Technologies (PTR) and a new position in cryptocurrency exchange Coinbase Global (COIN).

Q2 Holdings Changes

According to a filed Form 13F report with the US SEC, the bank acquired 51,732 shares of Coinbase Global Inc., valued at over $18 million. Simultaneously, the institution increased its Palantir Technology stake by 49,135 shares in Q2, raising its total holdings to 519,950 shares by June.

Palantir (PTR) Performance & Growth

Palantir Technologies, a prominent data analytics firm, saw its stock price increase by 80% in the first six months of 2025, significantly outperforming the S&P 500’s 5.5% gain. This performance has been driven by robust earnings reports and escalating investor interest in artificial intelligence, aligning with Palantir’s technological strengths.

Coinbase Joins S&P 500

May witnessed a significant milestone as Coinbase became the first cryptocurrency company listed in the S&P 500. This index, covering 500 leading US-listed corporations, serves as a key indicator of the American stock market. Following its S&P 500 inclusion, Coinbase’s stock climbed 41% in 2025’s first half, further adding 10% in subsequent weeks. Data indicates shares are approximately 60% higher over the past month.

Coinbase Financials & Market Conditions

Despite the stock price surge, Coinbase faced headwinds in its financial results. Q1 2025 revenue dipped 10% quarter-over-quarter to $2 billion, falling short of sector expectations amid reduced market activity. Net income experienced a drastic decline of 95% to $66 million, primarily attributed to a $596 million paper loss on its crypto inventory. Concurrently, trading volumes decreased 10.5% to $393 billion, negatively impacting transaction revenue which fell 18.9% to $1.26 billion. A contributing factor cited is the impact of potential Trump-era tariffs.

Coinbase Expands Crypto Market Presence

Despite these challenges, Coinbase actively pursued expansion. In May, the firm agreed to a $2.9 billion acquisition of the crypto options trading platform, Deribit. Recently, the exchange acquired Liquifi, a specialized token management platform focusing on early-stage tokenization projects. These acquisitions aim to bolster capabilities in token management, compliance, and support for token creators throughout their development lifecycle.