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

Odaily Planet Daily reports 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. Relayer Capital founder and former CoinFund partner Austin Barack will remain with RockawayX and manage the fund. The fund will focus on investing in undervalued tokens and crypto-related stocks. Recently, Bitcoin, Ethereum, and Solana have all seen gains exceeding 20% in the past week. Meanwhile, crypto venture capital firms such as Paradigm and Framework Ventures are incorporating AI and robotics into their investment portfolios.