Cathie Wood's Ark Invest Buys Figma Shares Amid 20% Post-Earnings Plunge
Ark Invest has revealed a stake in Figma after its first earnings report sent the stock tumbling, as the company stressed it was focused on design, not Bitcoin
Recap
Figma shares fell nearly 20% to $54.56 on Thursday after reporting its first quarterly earnings since going public.
Ark Invest Tracker data shows more than 100,000 shares were added to ARKW, although the disclosure has yet to be confirmed in ARK's public filings
The ARK purchase was a "textbook" move by Cathie Wood, Decrypt has learned.
Ark Invest, a New York-based investment firm led by Cathie Wood, has added more than 100,000 shares of Figma to its ARKW ETF, after the stock fell nearly 20% following the company’s first earnings report since going public.
The disclosure was made via the popular Ark Invest Tracker X account but has not been independently confirmed by ARK’s public filings. Decrypt reached out to Ark Invest for comment but did not immediately receive a response.
The stock purchase is consistent with Ark’s previous strategy of adding to high-growth names during periods of weakness, according to Dan Dadybayo, head of research and strategy at Unstoppable Wallet, an open-source, non-custodial cryptocurrency wallet.
The acquisition is “a textbook Cathie Wood move: leaning into volatility and backing companies she sees as long-term disruptors,” Dadybayo told Decrypt.
In July 2025, the company bought about 143,000 shares of Tesla after the earnings sell-off, while cutting about 34,000 shares of Coinbase and 68,000 shares of Roku as sentiment shifted, according to a report from financial analytics firm Barchart.
Despite the stock drop and sell-off, ARK appears to be “signaling a belief that Figma’s collaborative design moat, product momentum, and high margins outweigh the short-term execution risk,” he added.
Bitcoin is the largest crypto asset by market capitalization. Image: Shutterstock/Decrypt
Figma Shares Drop After Earnings as Company Says It’s Not a Bitcoin Treasury
Shares of software giant Figma plunged Thursday after it released its first quarterly report as a publicly traded company, with its CEO saying he’s not trying to be CEO of Michael Saylor’s strategy regarding its Bitcoin holdings. Nasdaq data showed Figma (FIG) was down nearly 20% Thursday afternoon, an hour before the closing bell, with shares at $54.56. The stock hit a high of $122 in early August, just days after the company listed on the NYSE. The drop…
Such a stance could “reframe the drop as an overreaction” and “attract other growth-focused investors who share the same long-term vision,” Dadybayo said.
Figma, which went public in July, reported revenue of $249.6 million for the quarter, up 41% from a year earlier. Rising costs and thinner margins raised doubts about its ability to sustain its early momentum, sending shares down nearly 20% to $54.56.
The company forecast adjusted operating income of $90–100 million, guidance that erased much of the stock’s post-IPO premium.
Ark Invest’s Cathie Wood. Image: Ark Invest
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The company also disclosed about $90 million in Bitcoin held through the ETF. However, CEO Dylan Field insisted that Figma is not a “Bitcoin holding company” and is instead focused on design.
While Figma’s Bitcoin holdings represent about 6% of its treasury, the holdings do not “fundamentally change its risk profile,” Dadybayo said.
Rather, the Bitcoin positioning shows that companies that put digital assets on their balance sheets are “recognizing the macro trend,” he explained.
“It’s based on sentiment: when the founder of a major design firm holds Bitcoin, it shows he’s on the right track without turning Figma into a crypto play.”