{
    "type": "ETP",
    "leverage": true,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": false,
    "complex_factors": [
        "Leverage",
        "Compounding Effect",
        "High Risk Profile"
    ],
    "classification": "complex",
    "supporting_data": "The Leverage Shares 3x Airbnb ETP is classified as complex primarily due to its 3x leverage, which amplifies both gains and losses. The product explicitly states it is designed for sophisticated investors who understand the risks of leverage and daily rebalancing. The compounding effect, which can lead to unexpected returns over longer holding periods, further contributes to its complexity. Additionally, the high-risk profile (rated 7 out of 7) and the potential for significant losses, including the possibility of losing the entire investment, reinforce this classification. While the ETP uses physical replication and does not explicitly mention derivatives or swaps, the leverage mechanism itself introduces complexity that requires specialized knowledge to fully comprehend.",
    "confidence": 95
}