CoinGecko: Figma enters top 25 with $70M in Bitwise BTC ETFs, plans $30M spot bitcoin purchase.

CoinGecko: Figma enters top 25 with $70M in Bitwise BTC ETFs, plans $30M spot bitcoin purchase.

Figma, a design software company, made a splash on its first day of trading on the New York Stock Exchange (NYSE), with shares rising by 198%. The company raised $1.2 billion through its initial public offering (IPO) and priced its shares at $33 per share, valuing the company at approximately $20 billion [1].

On Thursday, the stock traded at $98, suggesting a market valuation closer to $60 billion. This strong performance comes amidst a hot IPO season, where other tech companies and crypto firms like Circle (CRCL) and eToro (TOR) have seen their stock prices and valuations skyrocket [1].

Figma's IPO success was not its only notable achievement. The company recently disclosed that it holds approximately $70 million worth of the Bitwise Bitcoin ETF (BITB) and plans to purchase an additional $30 million worth of spot bitcoin (BTC). This move places Figma in the top 25 of CoinGecko's rankings based on its Bitcoin holdings [2].

While Figma is not a crypto company, its Bitcoin holdings could set a trend for other Silicon Valley offerings. The company's decision to invest in Bitcoin reflects a broader shift in corporate treasury strategies, as seen with other tech companies exploring the potential of cryptocurrencies as an asset class [3].

Figma's IPO was initially set to be acquired by Adobe for $20 billion, but the deal was terminated in 2023. Adobe agreed to pay Figma a $1 billion termination fee, which underscores the company's strong negotiating position and market appeal [1].

References:
[1] https://sg.finance.yahoo.com/news/tech-darling-figma-soars-198-181834534.html
[2] https://www.coingecko.com/ (CoinGecko website, accessed July 02, 2025)
[3] https://www.bitcoin.com/news/bitcoin-bull-mulls-different-kind-of-corporate-treasury-strategy-as-prices-continue-on-hold (Bitcoin.com article, accessed July 02, 2025)