Key Takeaways
- • RockawayX acquired Relayer Capital, a New York-based hedge fund founded by Austin Barack, and rebranded it as the RockawayX Liquid Opportunities Fund, a directional long/short strategy targeting undervalued liquid tokens and crypto-related equities.
- • Barack joined RockawayX as chief investment officer of the new fund, which is open to outside investors; Forbes reported the firm is seeking $150 million for the vehicle, though RockawayX's statement did not confirm a fundraising target or fee schedule.
- • Relayer's liquid strategy delivered an estimated net return of approximately 70% year to date and outperformed an equal-weighted basket of bitcoin, ether, and solana by 86% as of August 21, 2026 (figures flagged by the company as unaudited and subject to change).
- • The acquisition expands RockawayX's product suite—which already operates venture and market-neutral books—by adding a directional liquid sleeve with a U.S.-based CIO presence in the New York area.
- • The strategy remains in fundraising mode and should not be viewed as a fully subscribed vehicle; the acquisition signals strategic positioning around who captures value in liquid token selection as RockawayX diversifies beyond its venture book.
Summary
RockawayX, a digital-asset investment platform managing approximately $2 billion in assets under management, announced Tuesday the acquisition of Relayer Capital, a New York-area hedge fund founded by Austin Barack. The acquired fund will operate under the new name RockawayX Liquid Opportunities Fund and will pursue a directional long/short strategy focused on undervalued liquid tokens and crypto-related equities. Barack has assumed the role of chief investment officer for the fund, which welcomes new outside investors.
The acquisition represents a product-line expansion for RockawayX, which previously operated venture and market-neutral investment books. By establishing a dedicated liquid opportunities sleeve with a U.S.-based leadership presence in the New York area, the platform broadens its exposure across digital-asset investment strategies. However, the firm has not disclosed acquisition terms or provided official confirmation of fundraising targets or fee arrangements.
According to reports citing people familiar with the transaction, RockawayX is targeting $150 million in capital for the vehicle. Relayer's historical performance, as presented by the company, includes an estimated net return of approximately 70% year to date and an 86% outperformance versus an equal-weighted basket of bitcoin, ether, and solana as of August 21, 2026. The company flagged these figures as unaudited estimates subject to change, and they should not be interpreted as audited or final performance metrics.
Allocators evaluating this vehicle should treat the Liquid Opportunities Fund as an active fundraising strategy rather than a fully subscribed product. The acquisition underscores a broader competitive dynamic within digital-asset management: as venture-focused strategies and liquid token strategies converge within the same platform, questions emerge regarding fee capture and value distribution in liquid token selection.
The acquisition represents a product-line expansion for RockawayX, which previously operated venture and market-neutral investment books. By establishing a dedicated liquid opportunities sleeve with a U.S.-based leadership presence in the New York area, the platform broadens its exposure across digital-asset investment strategies. However, the firm has not disclosed acquisition terms or provided official confirmation of fundraising targets or fee arrangements.
According to reports citing people familiar with the transaction, RockawayX is targeting $150 million in capital for the vehicle. Relayer's historical performance, as presented by the company, includes an estimated net return of approximately 70% year to date and an 86% outperformance versus an equal-weighted basket of bitcoin, ether, and solana as of August 21, 2026. The company flagged these figures as unaudited estimates subject to change, and they should not be interpreted as audited or final performance metrics.
Allocators evaluating this vehicle should treat the Liquid Opportunities Fund as an active fundraising strategy rather than a fully subscribed product. The acquisition underscores a broader competitive dynamic within digital-asset management: as venture-focused strategies and liquid token strategies converge within the same platform, questions emerge regarding fee capture and value distribution in liquid token selection.
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