South African Cryptocurrency Index Tracking Service Luno Releases Cryptocurrency Investment Package
The Luno Large Cap Bundle, the first cryptocurrency investment bundle, was released today on the African crypto exchange platform Luno.
To make it easier for its customers to manage and maintain their various investment strategies, Luno partnered with CoinDesk Indices, the industry’s preeminent provider of digital asset indices, to make available to them investment bundles that aim to track CoinDesk’s broad market indices.
CoinDesk Indices are followed by roughly 70% of all crypto product assets under management worldwide. One of the first products to track these indices is Luno’s Large Cap Bundle.
“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.
Luno’s package is currently limited to customers in South Africa.
The Luno Large Cap Bundle consists of 5-10 of the highest market cap cryptocurrencies and is based on the CoinDesk Large Cap Select Index. Memecoins aren’t included because they don’t conform to CoinDesk’s stringent eligibility criteria.
CoinDesk Indices President Alan Campbell 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.”