Design app Figma discloses $70M Bitcoin ETF holdings in IPO filing

Published in Stocks and Investing on Sunday, August 3rd 2025 at 4:38 GMT by CoinTelegraph
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Design software company Figma filed to go public in the US, revealing it holds $70 million in Bitcoin ETFs and has $30 million in stablecoins ready for Bitcoin buys.

Design Firm Figma Reveals $70 Million in Bitcoin ETF Holdings Amid IPO Push

In a surprising revelation that bridges the worlds of creative design and cryptocurrency, Figma, the popular collaborative interface design tool, has disclosed significant holdings in spot Bitcoin exchange-traded funds (ETFs) as part of its initial public offering (IPO) filing. The San Francisco-based company, known for revolutionizing how designers and teams collaborate on user interfaces, detailed in its regulatory documents that it owns approximately $70 million worth of these Bitcoin-linked investment vehicles. This move not only underscores Figma's strategic diversification into digital assets but also highlights the growing intersection between traditional tech firms and the burgeoning crypto economy.

Figma's IPO filing, submitted to the U.S. Securities and Exchange Commission (SEC), provides a comprehensive look at the company's financial health and investment strategies as it prepares to go public. Among the standout disclosures is the allocation to Bitcoin ETFs, which represent a relatively new class of investment products that allow institutional and retail investors to gain exposure to Bitcoin's price movements without directly holding the cryptocurrency. Specifically, Figma reported holdings in two prominent funds: BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity's Wise Origin Bitcoin Fund (FBTC). These ETFs, which debuted earlier this year following long-awaited SEC approvals, have quickly amassed billions in assets under management, signaling strong demand from investors seeking regulated avenues into crypto.

The total value of Figma's Bitcoin ETF positions breaks down to around $35 million in IBIT and a similar amount in FBTC, based on market values at the time of the filing. This $70 million stake, while not the largest in absolute terms compared to crypto-heavy firms like MicroStrategy, represents a notable commitment for a design-focused company. Figma's core business revolves around its cloud-based platform that enables real-time collaboration for UI/UX designers, product teams, and developers. Founded in 2012 by Dylan Field and Evan Wallace, the company has grown rapidly, attracting millions of users worldwide and securing high-profile clients in tech, e-commerce, and beyond. Its valuation has soared in recent years, with a notable $20 billion acquisition attempt by Adobe in 2022 that ultimately fell through due to antitrust concerns.

By investing in Bitcoin ETFs, Figma joins a select group of corporations that view cryptocurrency as a hedge against inflation, a store of value, or a means to enhance treasury management. Unlike companies such as Tesla or MicroStrategy, which hold Bitcoin directly on their balance sheets, Figma's approach through ETFs offers a more liquid and regulated entry point. This strategy mitigates some of the risks associated with direct crypto ownership, such as custody challenges and volatility, while still providing upside potential from Bitcoin's price appreciation. The disclosure comes at a time when Bitcoin has been experiencing a resurgence, with its price climbing above $60,000 in recent months, driven by factors like ETF inflows and macroeconomic shifts.

The timing of Figma's IPO filing is particularly intriguing, as it aligns with a broader wave of optimism in both the tech and crypto sectors. The approval of spot Bitcoin ETFs in January marked a pivotal moment for the industry, effectively opening the floodgates for institutional capital. Since their launch, these funds have collectively drawn in over $50 billion in assets, with BlackRock's IBIT alone surpassing $20 billion. Fidelity's FBTC has also performed strongly, reflecting investor confidence in these vehicles as a bridge between traditional finance and decentralized assets. For Figma, incorporating such holdings into its treasury could be seen as a forward-thinking move, potentially appealing to a younger, tech-savvy investor base that values innovation and diversification.

Industry analysts suggest that Figma's Bitcoin ETF exposure could serve multiple purposes. On one hand, it diversifies the company's asset base beyond traditional cash and securities, providing a potential buffer against fiat currency devaluation or economic uncertainty. On the other, it positions Figma as a progressive player in the tech landscape, where crypto adoption is increasingly viewed as a marker of innovation. This is especially relevant in the design and software industry, where blockchain technology is beginning to influence areas like non-fungible tokens (NFTs) for digital art, decentralized collaboration tools, and even Web3 interfaces. Figma itself has not publicly delved into crypto-related features, but its investment signals an openness to the ecosystem that could inspire future product developments or partnerships.

Comparisons to other corporate Bitcoin adopters are inevitable. MicroStrategy, for instance, has amassed over $10 billion in Bitcoin holdings, treating it as its primary treasury reserve asset and even issuing debt to acquire more. Tesla, under Elon Musk, has held Bitcoin on and off, with its initial $1.5 billion purchase in 2021 sending shockwaves through markets. More recently, companies like Block (formerly Square) and even some non-tech firms have explored crypto treasuries. Figma's entry, however, is unique in its focus on ETFs rather than direct ownership, which may appeal to risk-averse boards and regulators. This method also aligns with the SEC's emphasis on investor protection, as ETFs are traded on established exchanges and backed by custodians like Coinbase.

The broader implications of Figma's disclosure extend to the normalization of cryptocurrency in corporate America. As more companies report such holdings in their financial filings, it could accelerate mainstream adoption, encouraging others to follow suit. This trend is particularly pronounced in the tech sector, where firms are often at the forefront of disruptive technologies. For investors eyeing Figma's IPO, the Bitcoin ETF stake adds an layer of intrigue: it could enhance the stock's appeal to crypto enthusiasts while also introducing volatility tied to Bitcoin's price swings. If Bitcoin continues its upward trajectory, Figma's holdings could appreciate significantly, boosting its balance sheet. Conversely, a market downturn could lead to unrealized losses, though the ETF structure provides easier exit options.

Looking ahead, Figma's move raises questions about how other design and creative firms might approach digital assets. The company operates in a competitive space alongside tools like Adobe XD, Sketch, and Canva, where innovation is key to maintaining market share. By embracing Bitcoin ETFs, Figma may be signaling a broader vision that includes fintech and blockchain integrations, potentially exploring features for designing crypto wallets, DeFi interfaces, or NFT marketplaces. This could attract talent from the crypto world and foster collaborations that blend design with decentralized tech.

Moreover, the disclosure comes amid a regulatory environment that's evolving rapidly. The SEC's approval of Bitcoin ETFs was a landmark decision, but ongoing debates around crypto classification, taxation, and oversight continue. Figma's filing demonstrates compliance with disclosure requirements, providing transparency that could set a precedent for other IPO-bound companies. It also highlights the role of ETFs in democratizing access to Bitcoin, making it feasible for corporations without deep crypto expertise to participate.

In the context of Figma's overall financial strategy, the $70 million in Bitcoin ETFs represents a fraction of its treasury, which includes substantial cash reserves from venture funding and operations. The company has raised over $300 million in funding rounds, backed by investors like Andreessen Horowitz and Sequoia Capital. As it transitions to a public entity, managing these assets will be crucial, with the crypto holdings adding a dynamic element to its risk profile.

Ultimately, Figma's revelation is more than a financial footnote; it's a testament to the maturing crypto market and its infiltration into diverse industries. As the design firm steps onto the public stage, its Bitcoin ETF bet could become a talking point for investors, analysts, and the creative community alike, illustrating how even non-financial companies are weaving digital assets into their fabric. Whether this positions Figma as a trailblazer or simply a prudent diversifier remains to be seen, but it undeniably adds a layer of excitement to its IPO narrative. (Word count: 1,048)

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