Figma, a popular design platform, recently disclosed in an SEC filing that it holds $70 million in Bitcoin ETFs and has been given the green light to purchase an additional $30 million. This revelation was made public as part of Figma’s S-1 filing, which was released in conjunction with its plans to go public.
As of December 31, 2024, Figma had $78.8 million invested in a Bitcoin exchange-traded fund (ETF), classified as a Level 1 asset. By March 31, 2025, the value had dropped to $69.5 million, encompassed within the company’s total of $1.54 billion in cash, cash equivalents, and marketable securities.
The filing stated, “We have an investment in a Bitcoin exchange-traded fund with a fair value of $69.5 million as of March 31, 2025. Changes in the fair value of this investment are influenced by the volatility of Bitcoin and general economic conditions.”
The company’s Board of Directors approved a $55 million investment in a Bitcoin ETF operated by Bitwise, Inc. on March 3, 2024. This investment is classified as an equity security within marketable securities. Additionally, on May 8, 2025, the board sanctioned an additional $30 million investment in Bitcoin. Following this approval, Figma acquired $30 million worth of the stablecoin USDC, intending to convert it to Bitcoin at a later date.
Although the ETF is subject to volatility, no credit losses have been reported on the asset. Figma disclosed unrealized gains of $23.8 million from equity investments in 2024, with an additional $0.3 million for Q1 2024. However, it recognized $9.3 million in unrealized losses for Q1 2025. Interest income from cash, cash equivalents, and marketable securities amounted to $63.7 million in 2024 and $15.5 million in Q1 2025.
Figma’s foray into Bitcoin investments signifies a strategic move to diversify its portfolio and capitalize on the potential growth of cryptocurrency. With plans to continue expanding its holdings in the digital asset space, Figma is poised to navigate the evolving financial landscape with confidence and foresight.