$69.5 Million Bitcoin ETF Holder Files for IPO

2025-07-01 23:57:57

Main Idea

Figma has filed for an IPO and disclosed its $69.5 million investment in a Bitcoin ETF, showcasing its interest in crypto markets alongside its strong financial growth and global customer base.

Key Points

1. Figma registered for an IPO and holds $69.5 million in a Bitcoin ETF, initially investing $55 million in the Bitwise Bitcoin ETF.

2. The company's revenue grew 46% year-over-year to $228.2 million in Q1 2025, with net income increasing to $44.9 million from $13.5 million.

3. Figma has over 1,000 large customers, including Amazon, Google, Microsoft, and Netflix, each spending at least $100,000 annually.

4. More than 50% of Figma's revenue comes from outside the US, and its platform is used by over 13 million monthly users, only a third of whom are professional designers.

5. Figma's board authorized a $30 million Bitcoin deal but ultimately invested the amount in USD Coin, a stablecoin.