RockawayX acquires Relayer Capital to expand US crypto offerings

Cryptocurrency investment firm RockawayX announced the acquisition of crypto hedge fund Relayer Capital, adding long‑short strategies to its platform and bolstering its U.S. presence.

Fund Rebranding and Strategy

Following the deal, Relayer will be rebranded as the RockawayX Liquid Opportunities Fund. The fund will focus on identifying undervalued liquid tokens and crypto‑related equities, employing long and short positions, including pair trades, to express fundamental views while managing broader market exposure.

Leadership and Capital Raising

Relayer founder Austin Barack will join RockawayX as chief investment officer of the new fund. RockawayX is seeking to raise $150 million for the vehicle, according to sources cited by a Forbes report.

Performance Highlights

Relayer’s liquid strategy has delivered a net return of roughly 70 % year‑to‑date, outperforming an equal‑weighted basket of Bitcoin, Ether and Solana by 86 % as of August 21.

Market Context

RockawayX CEO Viktor Fischer described the timing as “the right moment for the strategy,” citing the emergence of crypto businesses with real revenues and strong fundamentals amid perceived market inefficiencies. Bitcoin recently recorded its largest dollar‑denominated weekly gain in history, though it fell 1.68 % over the past 24 hours to $79,064 after briefly reaching around $81,000.

Outlook

Barack expressed confidence that crypto markets have bottomed, noting opportunities similar to those seen after prior bear markets in 2020 and 2023.