{
    "success": true,
    "data": {
        "leverage": true,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "ucits": false,
        "type": "ETP",
        "complex_factors": [
            "Leverage",
            "Derivatives",
            "Swaps",
            "Daily Rebalancing"
        ],
        "classification": "complex",
        "supporting_data": "The Leverage Shares 3x Long Coinbase (COIN) ETP uses leverage to achieve 3x daily exposure to the Coinbase stock. This introduces significant risk, especially over longer holding periods due to compounding effects. The KID explicitly states that this product is 'not simple and may be difficult to understand'.  The use of derivatives is central to the ETP's strategy, and the daily rebalancing adds another layer of complexity which significantly increases the risk that the retail client may not fully understand the product and its workings. The fact that it tracks the iSTOXX Leveraged 3x COIN Index, a leveraged index itself, further adds to the complexity.  The inclusion of a comprehension alert in the KID strengthens the classification of this instrument as 'complex' under MiFID II."
    }
}