Figma Shares Surge 198% on IPO, Company Holds $70 Million in Bitcoin ETF
Shares of Figma (FIG) increased by 198% on its debut on the New York Stock Exchange following a $1.2 billion initial public offering (IPO).
- Shares priced at $33, valuing the company at approximately $20 billion.
- Initial trades on Thursday showed shares at $98, implying a valuation around $60 billion.
- Figma, known for design software, holds about $70 million in Bitwise Bitcoin ETF (BITB) and plans to acquire an additional $30 million in spot bitcoin BTC.
- The firm’s previous deal with Adobe for $20 billion was terminated, resulting in a $1 billion termination fee paid to Figma.
- Figma's IPO reflects a trend among companies benefiting from regulatory clarity in the U.S., similar to crypto firms like Circle (CRCL) and eToro (TOR).