The Czech National Bank (CNB) has made a significant change in its investment strategy during the second quarter of 2025, increasing its exposure to the cryptocurrency sector through American shares.
According to a quarterly file subject to the US Securities and Exchange Commission (SEC), the central bank acquired 51,732 Coinbase Global shares. The company led by Brian Armstrong is the greatest exchange of American cryptocurrency and the only cryptographic enterprise in the S&P 500 index.
Czech National Bank of Crypto
The position, estimated at more than $ 18 million, marks the bank’s first direct investment in a listed cryptography company.
The financial regulator did not publicly comment on the justification of its updated portfolio. According to the file, the CNB held around $ 12.8 billion in listed shares in the United States on June 30.
Market analysts noted that this decision aligns the bank’s strategy to hold the S&P 500 constituents within the framework of its reserves. This approach allows the company to obtain an indirect exposure to rapidly evolving industries such as crypto and artificial intelligence.
“An asset under study is Bitcoin. He currently has no correlation with obligations and is an interesting asset for a large portfolio.
Meanwhile, Coinbase investment occurs in the middle of the wider pro-Crypto signals from CNB management. Earlier this year, Governor Aleš Michl declared his intention to allocate part of the country’s reserve assets on Bitcoin.
Although no purchase of this type has been confirmed, the announcement aroused significant interest in the market. If made, this decision could position the Czech National Bank as one of the first Western central banks to hold bitcoin on its balance sheet.
Michl stressed the importance of studying Bitcoin and its underlying blockchain technology rather than rejecting it. In his opinion, a better understanding of Bitcoin could strengthen central banks by equipping them for the evolution of the financial space.
“I said that Bitcoin is very volatile and could one day be worth one of the two extremes – zero or a huge quantity. I also stressed that Bitcoin is a high -risk asset for professional investors who are aware of all risks,” noted Michl.
Tomas Greif, product manager at Brains Mining, noted that even without a direct Bitcoin allowance, the CNB now has an indirect exhibition via Coinbase and Tesla. He added that this exhibition could increase more once Microstrategy joins the S&P 500.
However, Greif warned that if the CNB intends to buy Bitcoin directly, the window to enter at favorable prices can be closed.
For the moment, the actions of the bank indicate a cautious but deliberate interest in the cryptography sector. This indicates a potential change in the way in which traditional financial institutions see digital assets in their reserves.
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