CoinDesk Indices, a CoinDesk subsidiary, and crypto exchange Luno have joined together to start "Luno Large Cap Bundle" to help customers in South Africa access crypto investment bundles, making it easier for them to manage and maintain successful investment strategies.
The bundle, available only to South African users, will track CoinDesk Indices Large Cap Select Index (DLCS) and will include five to 10 of the largest cryptocurrencies by value, according to a press release. The bundle won't include memecoins, as it will follow CoinDesk's strict eligibility criteria.
Currently about 70% of global crypto product assets under management track indices provided by CoinDesk Indices. Both CoinDesk and Luno are subsidiaries of Digital Currency Group.
“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," CoinDesk Indices President Alan Campbell said in the statement.
The bundle will be updated automatically by Luno, to track CoinDesk's indices, keeping users portfolio up-to-date. Luno will also automatically rebalance the bundle every three months to align with the rebalancing of the indices by CoinDesk Indices.
“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.” Luno South Africa Country Manager Christo de Wit said.
Most recently, CoinDesk Indices, started the Bitcoin Trend Indicator (BTI), an online tool to help investors determine where bitcoin's (BTC) price is going.
Users will be able to access the bundle via Luno's mobile app or website.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.