- Figma integrates $70 million Bitcoin ETF holdings into its innovative IPO strategy.
- Figma’s IPO filing reveals a $16.5B valuation on a fully diluted share basis.
- Blockchain Common Stock hints at Figma’s shift toward tokenized equity models.
According to reports, design platform Figma’s SEC IPO filing implies a $16.5 billion valuation and $70 million in Bitcoin ETF holdings. The company is positioning itself as a tech unicorn, integrating digital assets and blockchain equity into its capital strategy. Figma plans to issue Blockchain Common Stock, reflecting its commitment to Web3-aligned financial infrastructure.
Crypto Holdings and Blockchain Stock Strategy
Figma’s SEC IPO filing outlines a $70 million position in Bitcoin exchange-traded funds, signaling direct exposure to digital assets. The company also plans to expand this allocation in the coming months as part of its treasury strategy. It has gained authorization to issue Blockchain Common Stock, suggesting preparation for decentralized equity frameworks or tokenized finance options.
This move places Figma among the first major tech IPO candidates with public crypto holdings and blockchain-based equity plans. Such positioning indicates a dual strategy to appeal to traditional capital markets and crypto-forward institutions. The blend of conventional and digital finance also helps align Figma’s IPO narrative with current market trends.
By including crypto asset exposure in its IPO strategy, Figma builds a capital structure that supports innovation. The Blockchain Common Stock could open doors for future token governance, digital share trading, or equity infrastructure on-chain. These moves come as digital assets gain momentum in regulated environments and corporate finance planning.
IPO Valuation and Listing Structure
Figma seeks to raise $1 billion by offering nearly 40 million shares at a $25–$28 price range. The offering includes 12.47 million new shares and 24.64 million from existing stakeholders, with underwriters able to purchase 5.54 million additional shares.
The offering will be listed on the New York Stock Exchange under the ticker “FIG” and led by major financial institutions. Morgan Stanley, Goldman Sachs, JPMorgan, and Allen & Company serve as joint lead book-runners for the IPO.
Figma reported $228 million in revenue and $45 million in net income in the first quarter of the year. Despite a $732 million net loss last year tied to a one-time employee share-related tax cost, momentum remains strong. The company has attracted backing from firms such as Sequoia Capital, Index Ventures, and Andreessen Horowitz.
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Market Timing and Broader Tech Trend
The SEC IPO filing of Figma indicates a surge in tech initial public offerings after a prolonged period of stalled activity, marked by economic volatility. The company’s crypto integration is part of a larger trend of privately held technology companies adopting crypto as a pre-IPO way to communicate innovation. This shift comes after the recent success of CoreWeave and the listing of Chime.
The added Bitcoin ETF holdings help Figma to be a forward-looking company with a more extensive investment base. Its approach can appeal to the established industry participants and capture crypto-friendly institutions and individual investors. This two pronged appeal helps its IPO instance in a conservative but reviving market.
The failure of the $20 billion Adobe acquisition offer in 2023 paved the way for an independent listing of Figma. With the SEC IPO filing out in the open, Figma will challenge the demand for hybrid tech stocks in the new market setting.
