RockawayX is planning to raise $150 million to establish a cryptocurrency hedge fund, betting on undervalued tokens and crypto equities.

BlockBeats News, August 26th. Digital asset investment firm RockawayX, which manages around $2 billion in assets, is seeking to raise $150 million for a new liquidity opportunity fund. Previously, RockawayX acquired crypto hedge fund Relayer Capital.

According to sources, Relayer's founder and former CoinFund partner, Austin Barack, will continue to serve at RockawayX and will be responsible for managing the new fund. The fund will focus on investing in "undervalued tokens and crypto-related equities."

Against the backdrop of RockawayX's move, the crypto market has recently seen a strong rebound, with Bitcoin, Ethereum, and Solana all gaining over 20% in the past week. At the same time, some well-known crypto venture capital firms such as Paradigm and Framework Ventures are expanding their investment horizons to include AI, robotics, and other fields. In contrast, RockawayX is still increasing its exposure to the liquidity-focused crypto asset market.