The Czech National Bank (CNB) made a notable shift in its investment strategy during the second quarter of 2025, increasing its exposure to the cryptocurrency sector through US equities.
According to a quarterly filing submitted to the US Securities and Exchange Commission (SEC), the central bank acquired 51,732 shares of Coinbase Global. The Brian Armstrong-led firm is the largest US-based cryptocurrency exchange and the only crypto firm in the S&P 500 index.
Czech National Bank’s Crypto Pivot
The position, valued at over $18 million, marks the bank’s first direct investment in a publicly traded crypto company.
The financial regulator has not publicly commented on the rationale behind its updated portfolio. According to the filing, the CNB held approximately $12.8 billion in US-listed equities as of June 30.
Market analysts noted that the move aligns with the bank’s strategy of holding S&P 500 constituents as part of its reserves. This approach allows the firm to gain indirect exposure to fast-evolving industries like crypto and artificial intelligence.
“An asset under consideration is Bitcoin. It currently has zero correlation to bonds and is an interesting asset for a large portfolio. Worth considering,” said Czech National Bank Governor, Aleš Michl.
Meanwhile, the Coinbase investment comes amid broader pro-crypto signals from CNB leadership. Earlier this year, Governor Aleš Michl stated his intention to
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Author: Oluwapelumi Adejumo
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