I am a CTO, going from 2 engineers to a total engineering org of approximately 20. Much of my time is non-coding, but I don't believe you have to totally give it up. I try to leave a day per week free of meetings to code / review code. I keep some projects that, while useful for the company, can be worked on irregularly and slowly, and are not super essential to be accomplished quickly (which is why they aren't prior…
There is nothing more irritating than a CTO that continues to code. For one it will seriously disturb the team dynamic because you are going to set the standard for everything, whether you like it or not and if you've hired smartly (better at the job than you would be) you've now dragged down the whole team with you.
Also, you are going to be there part-time as a coder, and whoever ends up drawing the short straw to review your code will be very much aware that they are reviewing the work done by a c-level exec. That review will be less than a similar review done on the work done by a peer.
So if your company is dear to you leave your coding for some hobby project and allow the people you have hired to do their very best under your guidance.