Design software company Figma has made waves in both the tech and financial worlds with its recent initial public offering (IPO) filing, revealing a bold strategic move into digital assets. In its S-1 registration statement submitted to the U.S. Securities and Exchange Commission (SEC), Figma disclosed holding approximately $69.5 million worth of Bitcoin ETF shares — specifically in the Bitwise Bitcoin ETF (BITB) — marking a significant step toward institutional adoption of cryptocurrency.
This revelation underscores a growing trend among forward-thinking companies to diversify their treasury reserves with digital assets. As Figma prepares to list on the New York Stock Exchange under the ticker “FIG,” investors are closely watching how its crypto strategy could influence long-term valuation and corporate financial innovation.
👉 Discover how leading companies are reshaping treasury management with Bitcoin.
Strategic Bitcoin Investment: A Breakdown
According to the SEC filing dated July 1, 2025, Figma invested $55 million** in the Bitwise Bitcoin ETF on **March 3, 2024**. By the end of that quarter (March 31), the value of this position had appreciated to **$69.5 million, reflecting an impressive 26% unrealized gain in just under a month.
This rapid appreciation highlights not only the volatility but also the high-growth potential of Bitcoin as a long-term store of value. The decision to allocate a portion of corporate capital to Bitcoin aligns with a broader movement seen in recent years, where technology firms seek to hedge against inflation and diversify beyond traditional cash equivalents.
The investment was made through BITB, one of the first spot Bitcoin ETFs approved by the SEC in early 2024. Bitwise’s ETF is known for its low fees and strong institutional backing, making it an attractive vehicle for corporate treasuries looking to gain exposure to Bitcoin without managing private keys or custody solutions.
Hunter Horsley, CEO of Bitwise, praised Figma’s decision:
“Figma’s move to allocate 5% of its balance sheet to Bitcoin signals a new era of corporate treasury innovation. We believe more companies will follow suit as they recognize Bitcoin’s potential as a durable, non-sovereign asset.”
$30 Million USDC Reserve Allocated for Future BTC Purchases
Beyond its current holdings, Figma has laid out a clear roadmap for further expansion into digital assets.
The filing reveals that on May 8, 2025, Figma’s board approved a **$30 million Bitcoin investment initiative**. To facilitate future purchases, the company acquired **30 million USDC** — a leading dollar-pegged stablecoin — at a rate of $1 per token.
“Company plans to invest the held stablecoins into Bitcoin in the future,” the document states, indicating that this is not a speculative gesture but part of a deliberate, board-approved treasury policy.
This move positions Figma among a growing cohort of public and private firms treating Bitcoin as a core component of financial resilience. By holding USDC — a liquid, blockchain-based asset — Figma retains flexibility to execute purchases at strategic market moments, avoiding the friction of converting traditional bank funds into crypto.
👉 Learn how stablecoins are revolutionizing corporate treasury operations.
From Acquisition Fallout to IPO Ambitions
Figma’s path to going public has not been without turbulence.
In 2022, Adobe — a Nasdaq-listed design software giant — announced plans to acquire Figma for $20 billion in cash and stock. The deal promised to consolidate two major players in creative software. However, regulatory scrutiny intensified over concerns that the merger would reduce competition and entrench Adobe’s dominance in design tools.
Ultimately, both the European Commission and the UK’s Competition and Markets Authority (CMA) blocked the acquisition. After months of negotiations and legal hurdles, Adobe officially terminated the deal in December 2023, paying Figma a $1 billion reverse termination fee — one of the largest such payouts in tech history.
That windfall, combined with continued strong revenue from its collaborative design platform used by millions worldwide, has empowered Figma to pursue an independent growth trajectory. The IPO filing suggests confidence in its standalone business model — now further strengthened by proactive treasury management.
The Rise of Corporate Crypto Reserves
Figma is not alone in embracing digital assets as part of corporate finance.
A growing number of companies are following what was first pioneered by MicroStrategy — now rebranded as Strategy — which holds over 597,000 BTC after purchasing an additional 13,500 BTC worth $531 million earlier this week. These moves reflect a maturing market where Bitcoin is increasingly viewed not as a speculative asset but as "digital gold" — a scarce, decentralized reserve currency.
Other notable developments include:
- Metaplanet, a Japanese firm focused on Bitcoin adoption, recently bought 1,005 BTC for $108 million, surpassing Cleanspark to become the fifth-largest corporate holder globally.
- BitMine Immersion Technologies, a blockchain infrastructure company, announced a $250 million private placement aimed at establishing an Ethereum (ETH) reserve, signaling that corporate interest is expanding beyond Bitcoin.
These actions suggest that we are witnessing a structural shift in how companies manage capital. Rather than keeping idle cash in low-yield accounts, firms are turning to crypto assets that offer scarcity, transparency, and global liquidity.
Why Companies Are Choosing Bitcoin
- Inflation Hedge: With rising global money supply and persistent inflation, Bitcoin’s fixed supply cap of 21 million coins makes it an appealing hedge.
- Diversification: Adding uncorrelated assets like Bitcoin reduces portfolio risk.
- Long-Term Appreciation Potential: Despite volatility, Bitcoin has delivered substantial returns over multi-year horizons.
- Financial Sovereignty: Unlike traditional assets tied to banking systems, Bitcoin operates on a permissionless network.
Frequently Asked Questions (FAQ)
Q: Why would a design software company invest in Bitcoin?
A: Figma sees Bitcoin as a long-term store of value and a way to diversify its treasury. Like holding gold or foreign currencies, allocating part of its balance sheet to Bitcoin helps protect against currency devaluation and inflation.
Q: Is Figma directly holding Bitcoin or using ETFs?
A: Currently, Figma holds shares in the Bitwise Bitcoin ETF (BITB) rather than direct BTC ownership. This allows easier integration with traditional financial reporting and custody frameworks.
Q: How much of Figma’s assets are invested in crypto?
A: Based on disclosures, Figma has allocated around $69.5 million** to Bitcoin via ETF and set aside another **$30 million in USDC for future BTC purchases — representing roughly 5% of its total balance sheet.
Q: Could other tech companies follow Figma’s lead?
A: Yes. With increasing regulatory clarity and institutional infrastructure, more companies — especially in tech and fintech — are likely to explore similar strategies.
Q: What are the risks of holding Bitcoin on a corporate balance sheet?
A: Key risks include price volatility, regulatory uncertainty, and cybersecurity concerns. However, using regulated ETFs and stablecoins can mitigate some operational risks.
Q: Will Figma accept Bitcoin as payment for its services?
A: The current filing does not indicate plans to accept cryptocurrency as payment. The investments appear strictly for treasury management purposes.
👉 See how enterprises are integrating crypto into their financial strategies today.
Final Thoughts
Figma’s IPO filing does more than announce its intent to go public — it sends a powerful message about the evolving role of digital assets in modern finance. By investing in Bitcoin through regulated ETFs and preparing future purchases via stablecoins, Figma joins a vanguard of innovative companies redefining what it means to be financially resilient in the digital age.
As market participants watch closely ahead of its listing, one thing is clear: Bitcoin is no longer fringe — it's becoming part of mainstream corporate strategy.
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Bitcoin ETF, corporate treasury, Figma IPO, USDC, digital assets, cryptocurrency investment, Bitwise ETF