tl;dr
The Czech National Bank purchased 51,732 shares of Coinbase Global, valued at nearly $20 million, marking its first investment in the cryptocurrency exchange as part of a strategy to diversify reserves with digital assets. Coinbase, despite a challenging first quarter with revenue and net income dec...
According to a recent Form 13F filing with the U.S. Securities and Exchange Commission, the Czech National Bank (CNB) acquired 51,732 shares of Coinbase Global, marking its first disclosed investment in the major cryptocurrency exchange. As of the end of June, the shares were valued at $18.1 million and have since appreciated to nearly $20 million based on recent closing prices.
This acquisition reflects the CNB’s increasing openness to digital assets as part of its strategy to diversify reserve holdings. Earlier this year, CNB Governor Aleš Michl indicated plans to potentially allocate up to 5% of the bank’s €140 billion ($163.5 billion) reserves into bitcoin and other crypto-related assets, pending board approval. The Coinbase purchase is aligned with the central bank's broader push to integrate crypto assets into traditional financial portfolios.
Coinbase has made significant strides this year despite facing challenges. The company experienced a difficult first quarter with a 10% drop in revenue and a 95% decline in net income, mainly due to a $596 million paper loss on crypto holdings. However, its stock has rebounded strongly and is up nearly 56% year-to-date, bolstered by a robust rally in crypto markets and aggressive expansion efforts.
In line with its growth strategy, Coinbase announced a $2.9 billion acquisition of Deribit, a leading crypto derivatives platform, in May. It also acquired Liquifi, a token management platform enhancing its capabilities in token cap table management, vesting, and regulatory compliance.
TIME magazine recognized Coinbase as one of the 100 Most Influential Companies of 2025, branding it a “disruptor” for its instrumental role in shaping digital asset policies and markets in the US. This recognition underscores Coinbase’s growing influence, particularly following the Senate’s passage of the GENIUS stablecoin bill and the company’s historic inclusion in the S&P 500 in May. Coinbase's stock surged 42% year-to-date, climbing from around $303 to nearly $382.
Beyond the US market, Coinbase is expanding its footprint in Europe by securing a license under the EU’s MiCA regulatory framework via Luxembourg’s financial regulator. The company plans to establish its European headquarters in Luxembourg. Additionally, Coinbase is seeking SEC approval to offer tokenized equities, positioning itself as a competitor to popular retail trading platforms such as Robinhood and WeBull.