Cryptocurrency investment firm RockawayX has acquired crypto hedge fund Relayer Capital to add long and short strategies to its existing platform and expand its presence in the U.S.

RockawayX, which has roughly $2 billion in assets under management, announced Tuesday that Relayer will be rebranded as the RockawayX Liquid Opportunities Fund, which will focus on identifying “undervalued liquid tokens and crypto-related equities.” 

Following the acquisition, Relayer founder Austin Barack will join RockawayX as CIO of the fund, according to the statement. The company is looking to raise $150 million for the vehicle, according to a Forbes report, citing sources familiar with the matter. 

According to the statement, Relayer’s liquid…