In a surprising yet strategic financial move, design platform Figma has disclosed in its latest SEC filing that it currently holds approximately $70 million in Bitcoin exchange-traded funds (ETFs)—and has secured board approval to invest an additional $30 million. This revelation comes as part of Figma’s S-1 registration statement filed in preparation for its upcoming initial public offering (IPO), marking a significant moment for both the fintech and tech innovation sectors.
The disclosure highlights a growing trend among private tech companies diversifying corporate treasuries with digital assets. Figma’s investment underscores increasing institutional confidence in Bitcoin as a legitimate store of value and long-term hedge against inflation.
Strategic Bitcoin ETF Investment Disclosed in S-1 Filing
As of March 31, 2025, Figma reported a fair value of $69.5 million** in Bitcoin ETF holdings—down slightly from $78.8 million at the end of 2024 due to market volatility. The asset is categorized as a Level 1 investment within its portfolio of marketable securities, which collectively totaled $1.54 billion** in cash, cash equivalents, and marketable securities at the start of Q2 2025.
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The filing notes:
“We have an investment in a Bitcoin exchange-traded fund. The fair value of this investment was $69.5 million as of March 31, 2025. Changes in the fair value of this exchange-traded fund are impacted by the volatility of Bitcoin and changes in general economic conditions, among other factors.”
This transparency into Figma’s balance sheet provides investors with insight into its broader risk management and capital allocation philosophy—one that embraces innovation not just in product design but also in corporate finance.
Board-Approved Expansion into Digital Assets
Figma’s journey into crypto-based investments began on March 3, 2024, when its Board of Directors authorized a $55 million investment into a Bitcoin ETF managed by Bitwise, Inc. The fund was classified as an equity security under marketable securities, reflecting a structured and regulated approach to exposure.
Then, on May 8, 2025, the board greenlit a further $30 million allocation** toward Bitcoin. Notably, Figma did not immediately convert this capital into BTC. Instead, it purchased **$30 million worth of USDC, a major dollar-pegged stablecoin, signaling a tactical decision to dollar-cost average or wait for favorable entry points before executing full conversion.
This move reflects a mature, risk-aware strategy—common among sophisticated institutional investors—where timing and liquidity preservation are critical components of asset acquisition.
Financial Performance and Market Volatility Impact
While digital asset investments carry inherent volatility, Figma’s financial statements show a balanced picture:
- Unrealized gains from equity investments (including the Bitcoin ETF) reached $23.8 million for the year ending December 31, 2024.
- In Q1 2025, however, the company recorded $9.3 million in unrealized losses, likely due to short-term Bitcoin price corrections.
- Despite fluctuations in crypto valuations, Figma earned $63.7 million in interest income** from its cash and marketable securities in 2024, followed by **$15.5 million in Q1 2025—indicating strong yield generation from low-risk instruments.
Importantly, the filing confirms no credit losses have been recognized on the Bitcoin ETF investment, reinforcing the resilience of regulated ETF structures compared to direct custody or unsecured lending models.
Why Figma’s Move Matters for Tech and Finance
Figma’s adoption of Bitcoin ETFs is more than a treasury decision—it's a signal to the broader market about shifting attitudes toward digital assets. As a prominent player in the creative software space, Figma joins a growing list of tech innovators treating Bitcoin not as speculative currency but as strategic reserve asset.
This aligns with movements seen at firms like MicroStrategy, Tesla, and Square—all of which have previously integrated BTC into corporate balance sheets. However, Figma’s approach stands out for its use of regulated ETF products, minimizing operational complexity and regulatory risk while still gaining exposure.
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Frequently Asked Questions (FAQ)
Q: Why did Figma invest in a Bitcoin ETF instead of buying Bitcoin directly?
A: Investing through a regulated ETF offers several advantages: simplified custody, compliance with accounting standards, reduced operational burden, and easier integration into public financial reporting—critical for a company preparing for an IPO.
Q: Is Figma planning to buy more Bitcoin in the future?
A: Yes. The company’s board approved an additional $30 million investment in Bitcoin. While it initially acquired USDC, the intent is to convert this stablecoin into BTC at opportune moments, suggesting a phased buying strategy.
Q: How does Bitcoin volatility affect Figma’s financials?
A: As noted in the filing, changes in the ETF’s value directly impact unrealized gains or losses on the balance sheet. While Q1 2025 showed a $9.3 million loss due to market swings, no credit losses were incurred—highlighting that price volatility doesn’t equate to default risk.
Q: What does this mean for Figma’s IPO prospects?
A: Transparency around digital asset holdings may attract investors seeking exposure to crypto-friendly tech firms. However, some conservative investors might view crypto allocations as risky. Overall, it positions Figma as forward-thinking and financially innovative.
Q: Are other tech companies making similar moves?
A: Yes. Companies like MicroStrategy hold over 200,000 BTC, while others such as Tesla and Block (formerly Square) have experimented with digital asset treasuries. Figma’s use of ETFs reflects a newer wave focused on regulatory compliance and investor accessibility.
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Looking Ahead: A New Era of Treasury Innovation
Figma’s disclosure sets a precedent for pre-IPO companies considering alternative asset classes. By leveraging regulated Bitcoin ETFs and employing prudent risk controls—such as holding USDC ahead of BTC conversion—the company demonstrates how innovation can extend beyond product design into financial architecture.
As more firms explore ways to preserve capital amid inflation and low bond yields, expect increased adoption of digital assets as part of diversified treasury reserves. For investors, employees, and stakeholders alike, Figma’s move offers a blueprint: embrace change strategically, disclose transparently, and align financial decisions with long-term vision.
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With its IPO on the horizon and a bold stance on digital assets now public record, Figma isn’t just designing user interfaces—it’s helping shape the future of corporate finance.