Figma, a design and product development platform, delivered one of the most remarkable stock market debuts in recent years with its initial public offering on July 31, 2025. Priced at $33 per share, the sale of 36,937,080 Class A shares raised approximately $1.2 billion, valuing the company at nearly $20 billion on a fully diluted basis. Shares opened at $85 on the New York Stock Exchange under the ticker “FIG” and closed at $115.50, representing a 250% increase from the IPO price and a market capitalization of nearly $70 billion. This marks the largest first-day percentage gain for any U.S. IPO exceeding $500 million in size, surpassing the previous record set by Circle.
Figma also disclosed significant digital asset holdings, including $98.3 million worth of shares in Bitwise’s Bitcoin ETF and $30 million in USDC stablecoins, amounting to nearly $130 million in crypto reserves. According to its SEC filing, the firm invested $55 million into the Bitcoin ETF in March 2024, later increasing in value. The company indicated that its USDC reserves may be converted into Bitcoin in the future, signaling a balanced approach to integrating cryptocurrency into its treasury. While positioning Bitcoin as part of a diversified investment strategy, Figma is not leveraging debt to expand its crypto portfolio, unlike some industry peers.