Figma Just Dropped $100M Bitcoin ETF Play

Key Insights:

• Figma revealed a $100M Bitcoin ETF play just ahead of its IPO.
• The company may tokenize stock in the future via “Blockchain Common Stock.”
• Unlike MicroStrategy, Figma is playing the crypto game slow, safe, and strategic.

Figma’s IPO isn’t just about design software; it’s now also about Bitcoin. As the company gets ready to go public, it has quietly revealed something unexpected in its SEC filings: a $70 million Bitcoin ETF position. And that’s just the beginning.

With a green light to issue tokenized stock and crypto-flavored ambitions, Figma may be doing more than just going public; it might be entering Web3 through the front door.

Figma Isn’t Buying Bitcoin Like MicroStrategy; and That’s the Point

When people hear “tech company buys Bitcoin,” they often think of MicroStrategy’s aggressive strategy: dumping hundreds of millions of dollars directly into BTC and storing it on their balance sheet. But Figma’s move is different.

Instead of buying actual Bitcoin, Figma chose to invest in Bitcoin ETFs; exchange-traded funds that track the price of BTC. That’s a more cautious route, designed to follow regulations while still gaining exposure to crypto’s upside.

According to Figma’s SEC filings, the company holds around $70 million worth of Bitcoin ETFs and plans to increase its allocation.

On top of that, the board has also approved another $30 million to be converted into Bitcoin later, currently held in USDC.

At the time of disclosure, this made Figma one of the first major tech companies to openly include Bitcoin exposure before going public.

This isn’t about chasing headlines. It’s about showing that Figma is playing a compliance-first, investor-friendly game. It gives them exposure to Bitcoin without raising red flags with regulators or alienating IPO investors who might be wary of volatility.

So while MicroStrategy buys Bitcoin and dares the world to stop them, Figma is saying: we’re getting in, too; just smarter.

Blockchain Stock Authorization Hints at Something Bigger

Buried deeper in the IPO filing is something even more interesting. Figma received board approval to issue “Blockchain Common Stock.” This isn’t something you see every day.

While the company hasn’t yet explained how it plans to use this feature, it opens the door to serious possibilities: tokenized equity, programmable shares, or even a DAO-style governance structure later down the line. These are not just buzzwords.

They’re signs that Figma is leaving a trail of breadcrumbs pointing toward deeper crypto-native strategies.

It’s possible the team is building in flexibility for the long run. Tokenized equity could allow shares to be distributed on-chain, improving speed, settlement, and even enabling fractional ownership.

And in the future, this could be used to tie governance to users and creators: a concept that already exists in Web3-native firms.

This isn’t a wild shift, either. Design tooling is becoming a big part of Web3. Tools like Penpot and VectorDAO already sit at that intersection. By keeping its Web2 investor base comfortable with ETFs while hinting at Web3-native features like tokenized stock, Figma might be trying to live in both worlds.

IPO timing Is The Key Alongside Bitcoin ETF Trend

Figma’s IPO isn’t just about numbers anymore; it’s also about sending a message. The company plans to list under the ticker “FIG,” with a price range between $25 and $28 per share, aiming for a total valuation around $16.5 billion. They’ll sell 12.5 million new shares, while current shareholders are offering another 24.5 million shares.

At the same time, Figma is talking about both Bitcoin ETF and something called tokenized stock. That means they’re showing two different groups they’re ready: regular investors who want things safe and legal, and crypto fans who want companies thinking ahead.

Tech IPOs have been rocky lately. Figma’s big $20 billion Adobe deal fell through last year. But now, its business is looking stronger; revenue jumped 46% year over year to $228 million, and profits hit $45 million. That’s real growth.

So when Figma adds Bitcoin and tokenized equity into the mix, it’s not just for buzz. It’s a clear signal: crypto is no longer optional. It’s part of the modern playbook.