Figma (NYSE: FIG) surged 198% on its first trading day after debuting on the New York Stock Exchange, following a $1.2 billion initial public offering (IPO) priced at $33 per share. The explosive rally pushed shares to $98, raising Figma’s valuation from $20 billion to nearly $60 billion.
The design software company, widely used by tech firms and creative teams, revealed it holds about $70 million in the Bitwise Bitcoin ETF (BITB) and plans to acquire an additional $30 million in spot Bitcoin (BTC), now trading at $115,886. Although not a crypto-native company, Figma’s Bitcoin strategy highlights growing interest among Silicon Valley firms in diversifying corporate treasuries with digital assets.
This IPO marks a major comeback for Figma after Adobe scrapped its $20 billion acquisition in 2023, paying a $1 billion termination fee. The public listing capitalizes on a bullish U.S. IPO market, with several tech and crypto companies like Circle (CRCL) and eToro (TOR) also experiencing strong debuts amid improving regulatory clarity for digital assets.
Figma’s successful offering underscores investor appetite for high-growth tech firms with exposure to emerging asset classes like Bitcoin. The company’s post-IPO valuation and Bitcoin holdings could set a precedent for future IPO candidates considering crypto as part of their balance sheet strategy.
With investor enthusiasm high and digital asset adoption accelerating, Figma’s IPO signals a shift in market sentiment toward tech companies blending traditional software innovation with blockchain and cryptocurrency exposure.
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