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

Odaily Planet Daily reported that RockawayX, which manages approximately $2 billion in assets, is seeking to raise $150 million for a new liquidity opportunity fund. RockawayX previously acquired crypto hedge fund Relayer Capital. Austin Barack, founder of Relayer Capital and former partner at CoinFund, will continue to serve at RockawayX and will be responsible for managing this fund. The fund will focus on investing in undervalued tokens and crypto-related stocks. Bitcoin, Ethereum, and Solana have all risen more than 20% over the past week. Meanwhile, crypto venture capital firms such as Paradigm and Framework Ventures are incorporating areas like AI and robotics into their investment strategies.