Design software giant Figma has unveiled a bold financial strategy as it prepares for its New York Stock Exchange (NYSE) debut. The San Francisco-based company disclosed a significant investment in a Bitcoin exchange-traded fund (ETF), marking a surprising turn for the firm known more for its design tools than financial ventures. The announcement comes as Figma filed to go public under the ticker “FIG.”
According to the company’s initial public offering (IPO) filing, Figma invested $55 million in a Bitcoin ETF managed by Bitwise. This investment, made in March 2024, had grown to $78.8 million by the end of December 2024, before experiencing a decline to $69.5 million by March 2025. Despite Bitcoin’s notorious volatility, Figma plans to increase its exposure by investing an additional $30 million using its USDC stablecoin reserves.
Strategic Investment Decisions
The decision to invest in Bitcoin is a notable shift for Figma, which has not previously been associated with digital asset markets. The company’s board of directors approved the initial investment shortly after regulators sanctioned the Bitwise Bitcoin ETF in January 2024. Figma’s move is part of a broader trend among companies adding Bitcoin to their balance sheets, a strategy that has garnered both interest and skepticism within the financial community.
Figma’s IPO filing, dated July 1, reveals that its Bitcoin holdings account for approximately 4.5% of its total $1.54 billion in cash and securities as of the end of March 2025. The company aims to increase this proportion by a further 2% through additional investments.
IPO and Market Position
The IPO represents a new chapter for Figma, following the collapse of a planned $20 billion acquisition by Adobe. The deal was abandoned in December 2023 due to regulatory challenges in the EU and the U.K. Despite this setback, Figma’s financial health appears strong, with reported revenues of $749 million for 2024 and a 46% increase to $228.2 million in the first quarter of 2025 compared to the same period the previous year.
Founded in 2012, Figma has evolved from a browser-based interface design tool into a comprehensive platform for cross-functional product teams. The company’s confidential SEC filing in April signaled its intent to go public, and it now hopes to meet the rigorous standards required for an NYSE listing. Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan are set to lead the offering.
Industry Implications and Future Prospects
Figma’s decision to embrace Bitcoin could influence other tech firms considering similar moves. The integration of digital assets into corporate balance sheets is a growing trend, with companies like Tesla and MicroStrategy leading the charge. However, Figma’s approach is cautious, as it acknowledges the inherent risks associated with cryptocurrency investments.
“The Company intends to reinvest its stablecoin holdings into Bitcoin at a later date,” Figma stated in its filing, highlighting its strategic approach to managing digital assets.
Looking ahead, Figma’s successful IPO could pave the way for further innovation and expansion. The company’s valuation, which reached $12.5 billion in a 2024 secondary tender offer, underscores its potential in the competitive design software market. As Figma navigates its public offering, the industry will be watching closely to see how its Bitcoin strategy unfolds.
The move represents a significant step in Figma’s journey, positioning it at the intersection of technology and finance. As the company prepares for its NYSE debut, its bold financial maneuvers may well set a precedent for others in the tech sector.
