RockawayX plans to raise $150 million to establish a crypto hedge fund, betting on undervalued tokens and crypto stocks

RockawayX manages approximately $2 billion in assets and is seeking to raise $150 million for a new liquidity opportunity fund. RockawayX previously acquired the crypto hedge fund Relayer Capital. Relayer Capital founder and former CoinFund partner Austin Barack will continue to serve at RockawayX and will be responsible for managing the fund.

The fund will focus on investing in undervalued tokens and crypto-related stocks. Recently, Bitcoin, Ethereum, and Solana have all seen increases of over 20% in the past week. Meanwhile, crypto venture capital firms such as Paradigm and Framework Ventures are incorporating fields like AI and robotics into their investment strategies.