San Francisco-based cloud-based design platform Figma has formally filed its IPO with the U.S. Securities and Exchange Commission (SEC).
The company filed its Form S-1 filing with the SEC today. According to the data in the filing, Figma has approximately $69.5 million in spot Bitcoin ETF assets as of March 31, 2025.
While this move was considered an indicator of the company's strategic interest in digital assets, Figma's board of directors also approved a new $30 million BTC investment plan with the decision taken on May 8, 2025. Within this scope, an equivalent amount of USDC was purchased and it was planned to convert these assets into Bitcoin.
As part of the IPO, Figma intends to list shares of its Class A common stock on the New York Stock Exchange (NYSE) under the symbol “FIG” in its own name and in the name of existing shareholders participating in the sale. The Company currently has no public market history.
In the statements made, Figma's shares were organized into three different classes:
- Class A: One vote per share,
- Class B: 15 voting rights per share (Convertible),
- Class C: Non-voting shares (with limited conversion rights).
The majority of voting rights after the IPO will reportedly remain with the company’s CEO and co-founder Dylan Field, who will retain most of the voting power through proxy grants from co-founder Evan Wallace and the Wu-Wallace Family Foundation.
*This is not investment advice.
