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

Key Points

1. Figma filed to go public on the NYSE under the ticker 'FIG' and disclosed $69.5 million in Bitcoin ETF holdings, including a $55 million investment in Bitwise Bitcoin ETF (BITB) with a 26% unrealized profit as of March 31, 2024.

2. Figma holds $30 million in USDC stablecoins, which it plans to use to purchase Bitcoin, as approved by its Board of Directors on May 8, 2025.

3. Adobe attempted to acquire Figma for $20 billion in 2022, but the deal was terminated in December 2023 due to regulatory concerns, with Adobe paying Figma a $1 billion reverse termination fee.

4. Other companies, such as Strategy (formerly MicroStrategy) and Metaplanet, have also been increasing their Bitcoin holdings, with Strategy purchasing $531 million worth of BTC and Metaplanet acquiring 1,005 BTC for $108 million.

5. BitMine Immersion Technologies raised $250 million via private placement to start an Ether treasury, indicating broader corporate interest in cryptocurrency reserves.