RockawayX acquires Relayer Capital to expand crypto offerings in US
Relayer will become the RockawayX Liquid Opportunities Fund, identifying 'undervalued liquid tokens and crypto-related equities.'
Cryptocurrency investment firm RockawayX has acquired hedge fund Relayer Capital to bolster its crypto offerings and strengthen its position in the U.S. market. The acquisition, announced on Tuesday, will see Relayer rebranded as the RockawayX Liquid Opportunities Fund, with a focus on identifying undervalued crypto tokens and equities.
Relayer founder Austin Barack will take on the role of Chief Investment Officer at RockawayX. The company aims to raise $150 million for the new fund, according to a Forbes report. Relayer's liquid strategy has generated a net return of around 70% year-to-date, surpassing an equal-weighted basket of Bitcoin, Ether, and Solana by 86% as of August 21.
The strategy employs long and short positions, including pair trades, to take fundamental stances on crypto assets while minimizing exposure to broader market fluctuations. RockawayX CEO Viktor Fischer believes this is an opportune time for the strategy, citing the emergence of crypto businesses with solid fundamentals and efficient markets that underprice them.
This development follows a recent crypto rally, with Bitcoin reaching a historical high of $81,000 in a single week.
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