Figma Soars 198% in Market Debut, Reveals $70M Bitcoin ETF Holdings

Shares of Figma (NYSE: FIG) skyrocketed 198% on Thursday, marking a blockbuster debut on the New York Stock Exchange following the design software company’s $1.2 billion initial public offering.

Figma priced its IPO at $33 per share, giving the firm an initial valuation of roughly $20 billion. However, early trading saw the stock change hands at $98, pushing its market cap closer to $60 billion.

Alongside its strong debut, Figma has attracted attention for its exposure to digital assets. The company previously disclosed it holds approximately $70 million in Bitwise’s Bitcoin ETF (BITB) and signaled intentions to purchase an additional $30 million in spot bitcoin.

Although not a crypto-native firm, Figma’s bitcoin allocation may influence a broader trend among Silicon Valley companies seeking alternative treasury strategies. Its move comes as institutional interest in bitcoin continues to rise, bolstered by regulatory clarity and growing acceptance of ETFs.

While Figma remains focused on its core business in design collaboration tools, its crypto holdings hint at a growing convergence between tech and digital assets.