Luno launches crypto investment bundle in South Africa to track digital asset indices
African Crypto exchange platform Luno has today launched the Luno Large Cap Bundle, allowing Luno customers to access crypto investment bundles for the first time.
Luno partnered with CoinDesk Indices, the leading provider of digital asset indices, to provide customers with access to investment bundles that aim to follow CoinDesk’s broad market indices, helping customers to easily manage and maintain different investment strategies.
Approximately 70% of global crypto product assets under management track indices provided by CoinDesk Indices. The Luno Large Cap Bundle is the first in a suite of products that follow these indices.
“Investing in crypto can be intimidating as there are over 10,000 cryptocurrencies. Few have the time and specialist knowledge to investigate which coins are likely to succeed and assess the risk of each,” says Christo de Wit, Luno’s South Africa country manager.
“Our customers have been looking for an easy way to invest in crypto for the long term that removes some of the guesswork and effort needed to stay up-to-date with every market movement. The Luno Large Cap bundle is an easy and secure way to do this.” he says.
The bundle offered by Luno is currently only available to South Africa users.
The Luno Large Cap Bundle tracks the CoinDesk Large Cap Select Index and includes 5-10 of the largest cryptocurrencies by value. Only cryptos that meet CoinDesk’s strict eligibility criteria are included, so memecoins won’t feature.
Alan Campbell, President, CoinDesk Indices, says, “Investing by tracking indices is worth considering as it gives investors exposure to crypto beyond Bitcoin with confidence that altcoins meet our quality standards intended for investability. We are thrilled about the partnership with Luno.”
Automatic updates and index tracking
The investment bundle moves with the index and is updated automatically by Luno to track CoinDesk’s indices. This means that your portfolio is always kept up-to-date with the cryptocurrencies to best suit your investment approach. Bundles are rebalanced every three months by Luno in line with the rebalancing of the indices by CoinDesk Indices.
