Investment firm Rockawayx has expanded its liquid-markets business through the acquisition of digital asset hedge fund Relayer Capital, adding a directional long-short strategy to its approximately $2 billion investment platform.
Following the transaction, Relayer has been renamed the Rockawayx Liquid Opportunities Fund. Relayer founder Austin Barack has joined Rockawayx as the chief investment officer of the fund, continuing to run its investment strategy while operating from the New York area to strengthen the firm's U.S. presence.
The fund takes long and short positions in liquid crypto tokens and digital-asset-related equities, focusing on assets that appear mispriced relative to their underlying businesses, market positions, or growth prospects. Rockawayx Chief Executive Viktor Fischer noted that the market features crypto businesses with real revenues and fundamentals that remain inefficiently priced, creating a strong setup for active investors.
According to Rockawayx, Relayer's strategy generated an estimated net return of roughly 70% through August 21, outperforming an equal-weighted basket of bitcoin, ether, and solana by 86 percentage points. Major contributors to the portfolio included positions in Venice AI, Hyperliquid, Grass Network, Pump.fun, and Zcash, with a strong emphasis on artificial intelligence and round-the-clock markets for tokenized real-world assets.
The acquisition adds a directional liquid strategy alongside Rockawayx's existing venture and market-neutral businesses. The firm also operates infrastructure and onchain liquidity divisions, which it states help investment teams identify opportunities across blockchain markets and support crypto companies from early-stage funding through public-market trading.
