Design software giant Figma has revealed a $69.5 million investment in the Bitwise Bitcoin ETF (BITB) in its IPO filing, signaling growing treasury interest in crypto.
Author: Tanishq Bodh
July 2, 2025 – Figma’s S-1 filing has revealed a major treasury allocation to Bitcoin, marking one of the most high-profile crypto disclosures by a tech company going public. As of March 31, 2025, the collaborative design platform held $69.5 million worth of the Bitwise Bitcoin ETF (BITB).
The purchase was approved by Figma’s board on March 3, 2024, and reflects a roughly 27% gain on the position, based on current values. The ETF appears alongside traditional assets like Treasuries, corporate bonds, and money market funds under the company’s marketable securities section.
Figma is not stopping with BITB. A separate resolution passed on May 8, 2025, authorized the purchase of $30 million worth of USDC to be reinvested into Bitcoin. This gives the company flexibility to time its buys while insulating operational liquidity from volatility.
The firm’s decision to use stablecoins before converting to BTC hints at a deliberate, treasury-style approach, likely treating Bitcoin as a long-term reserve asset rather than a speculative bet.
As of March 31, Bitcoin represented about 4% of Figma’s $1.07 billion in cash and cash equivalents. The company did not disclose the number of BITB shares it owns, nor did it offer guidance on how it might handle impairments or unrealized losses.
However, under US GAAP, ETFs classified as marketable securities do not impact net income unless sold. This shields reported earnings from price swings in the short term.
Figma confidentially filed for its IPO in April 2025 after Adobe’s $20 billion takeover was blocked by regulators in December 2023. The firm is now moving toward a public listing on the NYSE under the ticker symbol “FIG,” although the offering size and price range are still pending.
The filing offers insight into the company’s growth trajectory:
Figma also boasts 11,107 paid enterprise customers generating $10,000+ in annual recurring revenue (ARR), and over 1,000 clients above the $100,000 ARR mark.
With this disclosure, Figma joins companies like MicroStrategy, Tesla, and Block in using Bitcoin as part of its treasury strategy. Unlike MicroStrategy’s direct BTC holdings, however, Figma opted for a regulated ETF—likely to simplify accounting and avoid custody risks.
This adds to a broader trend of venture-backed tech companies exploring digital assets as hedge instruments, especially in the face of rising inflation and macro uncertainty.
Figma’s IPO filing puts Bitcoin squarely on the radar of traditional finance. By allocating millions into the Bitwise Bitcoin ETF and earmarking stablecoins for future buys, Figma signals that crypto is no longer just for fintech startups. It’s now part of the corporate treasury playbook.
Figma’s co-founder and CEO Dylan Field interned at Flipboard and was awarded a Thiel Fellowship in 2012. Peter Thiel’s fund gave him $100,000 to drop out of Brown University—an early move that helped launch Figma.
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