Figma disclosed $69.5M in Bitcoin ETF holdings in its IPO filing to signal strategic treasury management and innovation alignment to potential investors. This move reflects a growing trend among tech firms using crypto assets to diversify corporate reserves beyond cash and equities. By including ETFs rather than direct Bitcoin, Figma mitigates custody complexities while maintaining crypto exposure.
The disclosure also serves as a risk-transparency measure, preempting regulatory scrutiny over undisclosed volatile assets. Figma further noted holding $30M in USDC for future Bitcoin purchases, indicating planned accumulation. This positions the company to capitalize on potential appreciation while leveraging the regulatory clarity of ETFs versus direct holdings.
Such transparency may attract institutional investors seeking crypto-correlated growth without direct asset management burdens. However, it also exposes Figma to criticism if Bitcoin’s volatility impacts its balance sheet during market downturns. The strategy mirrors MicroStrategy’s approach but uses regulated instruments for broader investor appeal.
