Figma’s initial public offering (IPO) prospectus reveals that the design software company holds approximately $69.5 million of the Bitwise Bitcoin ETF (BITB). According to a July 1 filing, a table lists the ETF under level-1 marketable securities at $69.533 million. The document also stated that the board authorized a $55 million purchase on March 3, 2024, implying that the position has appreciated by roughly 27% since the acquisition. A separate note records a May 8 board resolution to purchase $30 million of USDC “for re-investment into Bitcoin at a later date,” providing the company with an additional pool of dollar-pegged capital earmarked for future accumulation. By accumulating a stablecoin first, the firm can time conversions without disrupting operating cash and hedge short-term price swings between board approval and execution. The disclosure places Bitcoin alongside money market funds, US Treasuries, and corporate bonds in Figma’s cash management mix. The $69.5 million stake equals roughly 4% of Figma’s $1.07 billion in cash, cash equivalents, and marketable securities reported as of March 31. The firm did not specify the exact number of BITB shares it holds. Figma’s S-1 is ahead of a planned listing that follows the collapse of Adobe’s $20 billion takeover attempt in 2023. The filing confirms reports that the company confidentially filed for an IPO in April as equity markets reopened for venture-backed software names. Figma joins a growing cohort of operating companies that allocate part of their treasury to Bitcoin. The prospectus does not set a timeline for converting the $30 million USDC tranche, although the additional allocation suggests the company views Bitcoin as a strategic reserve rather than a short-term trade. The filing offers no commentary on hedging or impairment policy. Under US GAAP, unrealized gains on an ETF classified as a security flow through other comprehensive income, insulating net income from mark-to-market volatility unless shares are sold.