Reading can be very relaxing.
correct
People can read as relaxingly as the way they play ball games.
I think I may have read, probably in some advert, about 'our relaxingly soft' mattresses or something, but I suspect it is a contrived word - that is, it doesn't exist. I'm afraid the construction "as the way" doesn't fit here either, so the whole sentence needs rewording . Do you want to try to redraft the sentence, using 'relax' instead of 'relaxingly'?