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

Tarang Khaitan 2 minutes ago Design app Figma discloses $70M Bitcoin ETF holdings in IPO filing Figma has filed to go public in the US, disclosing it holds $69.5 million worth of Bitcoin ETFs and has $30 million in USDC ready to purchase Bitcoin. Listen 0:00 14 News COINTELEGRAPH IN YOUR SOCIAL FEED Design software company Figma revealed in a regulatory filing that it owns nearly $70 million worth of shares in Bitcoin exchange-traded funds and has set aside $30 million in stablecoins to buy Bitcoin. Figma filed with the Securities and Exchange Commission on Tuesday to go public on the New York Stock Exchange under the ticker symbol “FIG,” with the paperwork detailing the firm’s current financial position. The filing said Figma invested $55 million into the Bitwise Bitcoin ETF (BITB) on March 3, 2024, and its value stood at $69.5 million with an unrealized profit of 26% as of the quarter ended on March 31. Figma’s filing with the SEC reveals the company held $70 million worth of Bitcoin ETFs. Source: SEC Figma has $30 million in stablecoins for Bitcoin buys Figma said it also holds $30 million worth of the stablecoin USDC (USDC), which it intends to use to purchase Bitcoin. “On May 8, 2025, the Board of Directors approved an investment of  $30.0 million in Bitcoin. Subsequently, the Company purchased 30.0 million USD COIN (USDC), a stablecoin, for $1 per USDC totaling $30.0 million,” the filing reads. ”The Company intends to re-invest its stablecoin holdings into Bitcoin at a later date.” Related: FATF warning on stablecoin crimes is not anti-crypto, intel firms say Bitwise CEO Hunter Horsley applauded Figma for holding 5% of its balance sheet in Bitcoin. “More and more corporations are going to own Bitcoin as part of their treasury,” he added. Figma’s failed acquisition by Adobe In 2022, the Nasdaq-listed design software giant Adobe looked to acquire Figma for $20 billion; however, the European Commission and the UK Competition and Markets Authority knocked back the deal over concerns that Adobe would form a monopoly and that the deal was overvalued. The transaction was called off in December 2023, with Adobe having to pay $1 billion in cash to Figma as a reverse termination fee. Companies continue to increase their crypto reserves Demand from companies to hold crypto in their respective treasury reserves has been on the rise in recent months. On Monday, Strategy, formerly MicroStrategy, revealed that it had purchased BTC worth $531 million , boosting its holdings to 597,000 BTC. Meanwhile, Japanese Bitcoin treasury firm Metaplanet bought 1,005 BTC for $108 million , thereby surpassing Cleanspark to become the fifth-largest corporate holder of Bitcoin. Bitcoin is not the only asset corporations are flocking to, as firms have started accumulating ETH for their treasury reserves. Mining firm BitMine Immersion Technologies announced that it had raised $250 million via private placement to jumpstart its Ether treasury. Magazine: Bitcoin ‘bull pennant’ eyes $165K, Pomp scoops up $386M BTC # Bitcoin # Business # Bitcoin ETF # Bitcoin Reserve Add reaction