{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "The index tracks global companies in the blockchain ecosystem which includes cryptocurrency mining and financial services. The index uses a 'blockchain category score' to weight constituents. There is also securities lending.",
        "classification": "non-complex",
        "supporting_data": "Based on the provided KIID, the Invesco CoinShares Global Blockchain UCITS ETF appears to be non-complex. It utilizes physical replication to track the CoinShares Blockchain Global Equity Index. While the index itself tracks companies involved in blockchain and cryptocurrency, this does not automatically render the ETF complex. The fund may engage in securities lending, introducing counterparty risk, but this doesn't automatically trigger a complex classification, particularly if it is well-managed within UCITS rules. Furthermore, the primary aim of the ETF is to achieve the performance of the index, which is a transparent, publicly available methodology. The index tracks global companies who participate in the blockchain ecosystem, this may include companies involved in blockchain-related activities such as crypto-currency u2018miningu2019 (i.e. the process of producing crypto-currency), as well as blockchain-related financial services, payments systems, technology solutions, and other areas. The ETF's structure and risks should, therefore, be reasonably understandable for retail investors. In the section, Securities Lending Risk: The Fund may be exposed to the risk of the borrower defaulting on its obligation to return the securities at the end of the loan period and of being unable to sell the collateral provided to it if the borrower defaults. The Share Class is in risk category 7 due to the rises and falls of its price or simulated data in the past. While the index contains blockchain related companies it does not necessarily make the underlying index difficult to understand for the average investor. The securities lending is a secondary feature and well managed within UCITS rules. The fund uses physical replication and thus the risk return profile is easily understood by retail investors."
    }
}