Czech central bank enters crypto equity market
Coinbase’s inclusion in the S&P 500 may have prompted the Czech National Bank’s investment, suggesting an index-aligned approach.
The Czech National Bank has taken a notable step towards digital asset exposure by acquiring over 51,000 shares in Coinbase. Details emerged in a recent US filing, which also showed a larger stake in Palantir, an AI firm with government data contracts.
Both assets now form part of the central bank’s evolving investment profile.
Coinbase has performed strongly in 2025, rising by more than 40% in the first half of the year. Market enthusiasm has been fuelled by renewed institutional confidence, as well as regulatory clarity in the United States following the approval of physically backed Bitcoin exchange-traded funds in 2024.
Palantir, meanwhile, has seen its shares soar by 80% over the same period, driven by investor interest in its AI capabilities and defence-sector contracts.
Despite the high-growth nature of these equities, analysts suggest the Czech National Bank’s positioning is less speculative and more aligned with index-tracking principles. Coinbase joined the S&P 500 in May 2025, while Palantir was added in late 2024.
The purchases may therefore reflect efforts to mirror benchmark indices rather than express bold investment convictions.
The presence of crypto and AI-linked firms within a conservative central bank’s portfolio underlines shifting attitudes towards emerging technologies. As institutions reassess growth and risk, previously fringe assets are becoming mainstream in central bank portfolios.
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