A leading design software application, Figma has filed for an IPO in the US. However, it isn’t the IPO that is garnering attention from investors but rather Figma’s shift to cryptocurrency. The SEC filing that was just made public this week shows that the company holds $69.5 million in Bitcoin exchange-traded funds (ETFs) and has set aside another $30 million in stablecoins (USDC) for Bitcoin acquisition.
On March 3, 2024, Figma made a $55 million investment in the Bitwise Bitcoin ETF. By March 31, 2025, the investment had appreciated to $69.5 million, i.e., a 26% unrealized gain.
On May 8, 2025, Figma’s board of directors approved a $30 million investment into Bitcoin again. Instead of bidding straight away on Bitcoin, the company decided to convert the sum into USDC dollar-pegged stablecoin. This move provides Figma flexibility in purchasing Bitcoin when market conditions are best.
This plan shows Figma’s belief in crypto long-term, and it puts them alongside other mainstream companies like MicroStrategy and Metaplanet that are stacking more Bitcoin. According to Bitwise Captain Hunter Horsley, more companies are likely to follow suit and hold Bitcoin as part of their corporate treasury.
Figma also acknowledged the potential risks in its filing. If the price of Bitcoin ETF drops 10%, then it can see $7 million in redemptions. Nonetheless, the firm confirmed these unrealized losses would arise from market volatility rather than a credit issue, suggesting the firm’s calculated crypto exposure.
This IPO filing comes a year after Adobe’s failed attempt to acquire Figma for $20 billion. The UK and EU blocked the deal, which eventually fell apart in December 2023. As a result, Adobe paid $1 billion to terminate the merger agreement.
Figma is set to go public on the New York Stock Exchange under the ticker “FIG.” Top investment banks like Goldman Sachs, Morgan Stanley, J.P. Morgan, and Allen & Company are backing it.
Conclusion
Figma’s filing for an IPO does more than signal its entry into public markets—it’s an important sign of how big tech companies are adopting crypto. Figma is taking steps toward Bitcoin adoption. They are set to hold Bitcoin ETFs. Plus, they are preparing to buy BTC directly. This move blends design and finance.
