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Figma has disclosed a $69.5 million Bitcoin ETF holding, representing 4.5% of its cash and securities portfolio, signaling a strategic embrace of digital assets ahead of its NYSE debut.
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The company’s board approved the initial investment in the Bitwise Bitcoin ETF in early 2023 and plans to expand its Bitcoin exposure by converting $30 million in USDC stablecoins into the cryptocurrency.
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According to COINOTAG, “Figma’s move into Bitcoin ETFs highlights a growing trend among tech firms diversifying treasury assets amid market volatility.”
Figma’s $69.5M Bitcoin ETF stake marks 4.5% of its portfolio, with plans to increase Bitcoin exposure using USDC stablecoins ahead of its NYSE IPO.
Figma’s Strategic Bitcoin ETF Investment Reflects Growing Corporate Crypto Adoption
Figma’s recent IPO filing revealed a significant investment in the Bitwise Bitcoin ETF, totaling $69.5 million after accounting for unrealized gains and losses. This allocation constitutes approximately 4.5% of the company’s $1.54 billion cash and securities portfolio as of March 31, 2024. The decision to invest in a regulated Bitcoin ETF demonstrates Figma’s cautious yet forward-looking approach to integrating digital assets within its treasury management strategy. By leveraging a Bitcoin ETF, Figma mitigates direct custody risks while gaining exposure to the cryptocurrency’s potential upside. This move aligns with a broader industry trend where both private and public companies increasingly diversify their balance sheets with Bitcoin to hedge against inflation and currency depreciation.
Board Approval and Future Plans to Expand Bitcoin Holdings Using USDC
Figma’s board of directors approved the initial $55 million investment in the Bitwise Bitcoin ETF in March 2023, shortly after regulatory approval of the fund. Despite experiencing a $9.3 million unrealized loss by March 2024, the company’s Bitcoin position remains robust, valued at $69.5 million. Notably, Figma has pre-approved plans to reinvest $30 million of its USDC stablecoin reserves into Bitcoin, signaling confidence in the cryptocurrency’s long-term value proposition. This strategic allocation from stablecoins to Bitcoin reflects a nuanced treasury diversification approach, balancing liquidity and growth potential. The company’s willingness to increase Bitcoin exposure amid volatility underscores a calculated risk appetite uncommon among traditional software firms.
Figma’s IPO and Financial Growth Amidst Crypto Integration
Founded in 2012, Figma has evolved into a leading browser-based design platform, now preparing for its public listing on the New York Stock Exchange. The company reported $749 million in revenue for 2024, with a 46% year-over-year revenue increase to $228.2 million in Q1 2025. These strong financials provide a solid foundation for its IPO, supported by joint lead underwriters Morgan Stanley, Goldman Sachs, Allen & Company, and J.P. Morgan. The inclusion of Bitcoin ETFs in its portfolio adds a layer of financial innovation, positioning Figma as a forward-thinking tech company embracing emerging asset classes. This strategic diversification comes after the collapse of its $20 billion acquisition by Adobe, marking a pivotal moment as Figma charts an independent growth trajectory.
Industry Context: Bitcoin ETF Adoption Among Public Companies
Figma’s Bitcoin ETF investment places it among a growing cohort of companies incorporating digital assets into their treasury strategies. This trend reflects increasing institutional acceptance of Bitcoin as a store of value and a hedge against macroeconomic uncertainties. By choosing a Bitcoin ETF, Figma benefits from regulatory oversight and liquidity advantages, reducing the operational complexities associated with direct Bitcoin holdings. Industry analysts note that such moves may encourage broader corporate adoption of crypto assets, potentially influencing market dynamics and investor sentiment. Figma’s approach exemplifies how tech firms can integrate cryptocurrency exposure prudently while maintaining compliance and financial stability.
Conclusion
Figma’s $69.5 million Bitcoin ETF holding and plans to convert $30 million in USDC stablecoins into Bitcoin underscore a strategic embrace of cryptocurrency within its treasury management. This measured yet progressive approach highlights the company’s confidence in digital assets as part of a diversified financial strategy ahead of its NYSE debut. As Figma continues to grow its core business and expand its crypto exposure, it sets a precedent for other tech firms considering similar integrations. Investors and industry observers should watch how this blend of traditional financial growth and innovative asset allocation influences Figma’s market performance and broader corporate crypto adoption trends.
