The Red Heart yarn label instructions read: “Machine wash warm, gentle cycle. Tumble dry low. Do not over-dry. Do not iron. Do not bleach. Professionally dry clean. For best results on fringe: hand wash; lay flat to dry.”
To these suggestions I would add: Avoid liquid fabric softeners, as these have been known to cause blue spotting in rare instances.
Regarding long term storage, I would suggest: Do not store hanging. Do not store folded. If you must store an afghan long term, roll it, making sure any fringe is straight and not bunched.
Pssst . . . Nobody ever seems to mention it, but not only does this yarn wear like iron, it also softens more every time you wash it, becoming delightfully cosy.