Figma has quietly assembled a $100 million Bitcoin position through a combination of ETF holdings and direct purchases, transforming the design platform darling into an unlikely protagonist in corporate America’s growing crypto treasury narrative. The company’s IPO S-1 filing, made public in July 2025, revealed approximately $70 million held in Bitcoin ETFs—primarily through Bitwise Bitcoin ETF (BITB) units—with an additional $30 million purchase approved by the board on May 8, 2025.
The timing proves particularly intriguing, considering Figma‘s decision to deploy USDC for its latest Bitcoin acquisition rather than traditional cash reserves. This tactical choice suggests a sophisticated understanding of crypto rails that extends beyond mere speculative positioning. The company’s board-approved expansion demonstrates institutional conviction that goes well past the typical corporate toe-dipping exercise that has characterized many tech firms’ crypto forays.
Figma’s ETF-centric approach reflects a calculated balance between Bitcoin price exposure and operational simplicity. Rather than wrestling with direct custody headaches and accounting complexities that plague companies holding actual Bitcoin, the design platform opted for regulated, tradable instruments that slot neatly into traditional corporate treasury frameworks.
Figma chose regulated ETFs over direct Bitcoin custody, prioritizing operational simplicity while maintaining full price exposure.
The $69.5 million position as of March 31, 2025, represents a substantial treasury diversification that places Figma among the more aggressive corporate Bitcoin adopters. Bitwise CEO Hunter Horsley praised the company for dedicating 5% of its balance sheet to Bitcoin, highlighting the significant allocation relative to traditional corporate treasury standards. This move aligns with the broader trend of institutional adoption driving significant growth in the crypto market throughout 2025.
What makes this particularly remarkable is the transparency aspect—few companies have disclosed their crypto holdings with such specificity during the IPO process. This public embrace of Bitcoin as a legitimate treasury asset could influence other tech companies contemplating similar moves, especially given Figma’s reputation as a forward-thinking platform used extensively across the design and product development ecosystem.
The strategic implications extend beyond simple portfolio diversification. By leveraging both ETFs and direct purchases through stablecoins, Figma has constructed a hybrid approach that maximizes flexibility while maintaining regulatory compliance.
Whether this $100 million bet proves prescient or becomes a cautionary tale remains to be seen, but the company has certainly positioned itself at the intersection of traditional corporate finance and the evolving digital asset landscape.
