Global digital asset investment platform RockawayX has acquired Relayer Capital, a crypto-focused hedge fund, in a move that expands its suite of investment strategies and strengthens its footprint in the United States.
The deal, announced on August 25, 2026, transforms Relayer into the newly branded RockawayX Liquid Opportunities Fund.
Austin Barack, Relayer’s founder, will join RockawayX as Chief Investment Officer of the fund and continue overseeing its investment approach.
RockawayX manages roughly $2 billion in assets across venture, market-neutral, infrastructure, and onchain liquidity activities, supported by a team of about 60 people worldwide.
The acquisition introduces a directional long/short strategy focused on spotting undervalued liquid tokens and crypto-related equities.
This addition complements the firm’s existing offerings and allows it to serve investors with a wider range of risk-return profiles in digital assets. Because Barack is based in the New York area, the transaction also deepens RockawayX’s operational presence in the US market.
The fund remains open to new external capital. According to reports citing sources familiar with the matter, RockawayX aims to raise $150 million for the vehicle.
Financial terms of the acquisition itself were not disclosed.Relayer’s liquid strategy has shown notable results in 2026.
As of August 21, it delivered an estimated net return of about 70 percent year-to-date, outperforming an equal-weighted basket of Bitcoin, Ethereum, and Solana by 86 percent.
Gains have been driven by high-conviction positions in themes such as artificial intelligence and the expansion of 24/7 onchain real-world asset trading.
Key contributors included holdings in Venice AI, Hyperliquid, Grass Network, Pump.fun, and Zcash.
The approach employs long and short positions, including pair trades, to reflect fundamental views on individual crypto tokens while managing broader market exposure when conditions warrant.
Viktor Fischer, CEO of RockawayX, emphasized the disciplined nature of the expansion.
“We have always been disciplined about adding new strategies to RockawayX. We only expand when we have the right people and investment approach, and conviction we can outperform,” he said.
“This is the right moment for the strategy. There are now crypto businesses with real revenues and strong fundamentals that we can underwrite, yet the market is still inefficient and misprices them.”
Barack highlighted improving market conditions.
He noted signs that crypto markets have bottomed and described the current environment as offering opportunities similar to recoveries seen after prior bear markets in 2020 and 2023.
The fund prioritizes growth, value, and category leaders that maintain durable market share, viewing many assets as still meaningfully undervalued.
The timing aligns with renewed investor interest in digital assets.
Bitcoin recorded its strongest weekly gain in two and a half years, climbing approximately 20 percent in the week ending August 21, amid stronger demand for risk assets and a more constructive US regulatory outlook, including progress on market-structure rule-making by the SEC and CFTC.
By integrating Relayer’s strategy, RockawayX gains continuity of process while providing the team access to a larger institutional platform, including dedicated infrastructure and onchain liquidity capabilities.
The broader platform enables RockawayX to support crypto companies across their lifecycle—from early venture funding and liquidity provision to public-market support after token launches—while giving investors access to complementary strategies.
The acquisition positions RockawayX to capitalize on maturing onchain markets characterized by projects with tangible revenues and fundamentals that the broader market has yet to fully price efficiently.