Design software company Figma has disclosed a $55 million investment in a Bitcoin ETF managed by Bitwise, as part of its plans to go public on the New York Stock Exchange under the ticker “FIG.”
The investment, approved by Figma’s board on March 3, 2024, was made shortly after regulatory approval of the ETF in January 2023. By December 2023, the holding had unrealized gains of $78.8 million, before declining to near $69.5 million by March 31, 2024.
Despite Bitcoin’s volatility, Figma plans to increase its exposure by converting an additional $30 million of USDC stablecoins into Bitcoin, as outlined in its IPO filing dated July 1.
Figma, known for its browser-based design platform launched in 2012, has not previously been associated with digital asset investments. The company did not comment on the move.
Financial details in the filing show strong growth: Figma reported $749 million in revenue for 2024, with first-quarter 2025 revenue rising 46% year-over-year to $228.2 million. Bitcoin holdings currently represent about 4.5% of Figma’s $1.54 billion in cash and securities.
The IPO follows the collapse of Adobe’s planned $20 billion acquisition of Figma, which was terminated in December 2023 due to regulatory challenges in Europe.
Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan are leading the IPO.