Figma IPO Launches with $70M Bitcoin ETF Stake and $30M USDC Buy Facility

Design software leader Figma has filed its S-1 registration to list on the NYSE under the ticker “FIG,” following a $12.5 billion 2024 secondary valuation. The company reported Q1 2025 revenue of $228 million (up 46% year-on-year) and full-year 2024 revenue of $749 million, driven by its subscription model and international expansion. In a strategic treasury move, Figma disclosed a $69.5 million position in the Bitwise Bitcoin ETF (BITB), representing 4.5% of its $1.54 billion cash and securities portfolio as of March 31, 2024—up from the initial $55 million equity approved in March 2023. Despite an unrealized loss of $9.3 million at that date, the ETF has since delivered a 26% gain. To deepen its crypto exposure, the board has authorized converting $30 million of USDC stablecoins into additional Bitcoin ETF shares, using a regulated fund to mitigate custody risks. Founder Dylan Field retains over 75% voting control and plans aggressive AI investments and acquisitions post-IPO. Traders should note that Figma’s move reflects growing corporate demand for Bitcoin assets, potentially reinforcing bullish market sentiment for BTC.