Figma Holds $70M in Bitcoin ETF as IPO Filing Goes Public

• Figma owns $70M in Bitcoin ETF shares as part of its $1.54B in cash and securities.
• The firm also bought $30 million in USDC and plans to invest that amount into Bitcoin.
• Figma filed for an IPO and said its revenue reached $749M in 2024, with more growth in 2025.

Figma has revealed in its S-1 filing with the U.S. SEC that it owns $70 million in Bitwise Bitcoin ETF shares. Furthermore, the board has approved an additional $30 million in USDC to purchase more Bitcoin. The design technology firm confirmed the move while preparing for its upcoming listing on the New York Stock Exchange, marking a noteworthy turn in how non-crypto-native companies are approaching digital assets as strategic reserve tools.

Filed confidentially in April, the IPO follows a turbulent history that includes a failed acquisition attempt by Adobe due to antitrust issues. In its filing, Figma stated: “We have an investment in a Bitcoin exchange-traded fund. The fair value of this investment was $69.5 million as of March 31, 2025.”

Bitcoin and USDC in Figma’s Treasury Playbook

Figma’s board of directors approved a $55 million investment in the Bitwise-managed ETF on March 3, 2024. This move occurred shortly after U.S. regulators approved spot Bitcoin ETFs in early 2024, signaling a growing institutional trust in digital assets.

Though the ETF’s value declined slightly to $69.5 million by March 2025, it still comprised about 4.5% of Figma’s $1.54 billion in total cash, cash equivalents, and marketable securities. The investment is classified as an equity security and is included in the company’s marketable securities portfolio.

The Block said that on May 8, 2025, Figma’s board approved another investment—this time in Bitcoin directly. The company subsequently acquired $30 million worth of USD Coin (USDC), a regulated stablecoin pegged 1:1 with the U.S. dollar. According to the filing, Figma “intends to reinvest its stablecoin holdings into Bitcoin at a later date.”

Related: Smarter Web Raises $56M Days After Buying 196 Bitcoin

Public Market Ambitions Supported by Steady Growth

Founded in 2012, Figma began as a cloud-based design platform and has since evolved into a vital tool for product teams across industries. The company’s decision to go public follows a period of strong financial performance, with the firm generating $749 million in revenue during fiscal year 2024.

The first quarter of 2025 saw an increase, with revenues totaling $228.2 million, representing a 46% rise over Q1 2024. These figures suggest that Figma remains well-positioned to face public market scrutiny. The crypto strategy, integrated alongside traditional revenue growth, adds a layer of asset diversification. 

While many tech startups consider crypto exposure highly risky, Figma’s treasury strategy represents a balanced approach to managing risk. It is not walking away from core operations so much as it is signaling a belief in Bitcoin as a hedge and store of value. 

Figma’s entry into the crypto space, with about 4.5% of its reserves held in a Bitcoin ETF, reflects a growing trend among tech companies exploring digital assets. The firm also acquired $30 million in USDC to convert it into Bitcoin, indicating a phased approach to crypto exposure. Whether the other private tech giants will follow the hybrid approach remains to be seen; however, Figma has offered them a real-time test case at Wall Street’s doorstep.

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