Crypto News

CoinDesk and Luno Launch “Luno Large Cap Bundle” for South African Crypto Investors

Published by
Nonhlanhla P Dube
  • CoinDesk Indices and Luno have teamed up to create the “Luno Large Cap Bundle” to help South African users access crypto investment bundles and manage different investment strategies.
  • The bundle will track CoinDesk Indices Large Cap Select Index (DLCS) and include five to 10 of the largest cryptocurrencies by value, without including memecoins, as it follows CoinDesk’s strict eligibility criteria.
  • Luno will automatically update and rebalance the bundle every three months to align with the rebalancing of the indices by CoinDesk Indices.

CoinDesk Indices, a subsidiary of CoinDesk, and Luno, a cryptocurrency exchange, have partnered to launch the “Luno Large Cap Bundle” in South Africa. The bundle will enable customers to access crypto investment bundles, allowing them to manage and maintain different investment strategies with ease.

The bundle will track CoinDesk Indices Large Cap Select Index (DLCS) and will consist of five to ten of the largest cryptocurrencies by value, excluding memecoins. The bundle will only be available to South African users.

CoinDesk Indices President, Alan Campbell, said that investing by tracking indices was worth considering, as it gives investors exposure to crypto beyond Bitcoin with confidence that altcoins meet quality standards intended for investability. About 70% of global crypto product assets under management track indices provided by CoinDesk Indices.

Luno will automatically update the bundle to track CoinDesk’s indices, keeping users’ portfolios up-to-date. The bundle will also be automatically rebalanced every three months to align with the rebalancing of the indices by CoinDesk Indices. Luno South Africa Country Manager, Christo de Wit, said, “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.”

The partnership between CoinDesk Indices and Luno aims to make it easier for South African users to access crypto investment bundles, manage and maintain different investment strategies, and stay updated with the market movements. It demonstrates the ongoing growth of the crypto industry, and the increasing adoption of crypto investments by investors globally.

Nonhlanhla P Dube

Nonhlanhla P Dube is a senior news reporter at Rateweb. Nonhlanhla is a student of International Relations at the University of South Africa. She reports primarily on personal finance and economics. You can contact her directly by email at nonhlanhla@rateweb.co.za

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Published by
Nonhlanhla P Dube

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