{
    "ok": true,
    "_meta": {
        "isin": "CH1146882308",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-18T20:32:28+00:00",
        "captured_unix": 1781814748
    },
    "classification": "complex",
    "confidence": 0.93,
    "review_required": false,
    "decision_rule_applied": "etp_priips_comprehension_alert_hard_complex_rule",
    "product_policy_branch": "ETP",
    "fund_name": "21Shares Bytetree BOLD ETP (BOLD)",
    "isin": "CH1146882308",
    "type": "ETP",
    "ucits": false,
    "asset_class": "crypto_and_commodity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": false,
        "counterparty_risk": false,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": true,
        "priips_comprehension_alert": true,
        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": true,
        "crypto_digital_asset": true
    },
    "complex_factors": [
        "PRIIPs comprehension alert"
    ],
    "non_complex_factors": [
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "high",
        "drivers": [
            "Complex or rules-based index methodology",
            "Index performance may depend on dynamic allocation or strategy rules",
            "Crypto or digital asset exposure",
            "Valuation and market structure may be difficult for ordinary retail clients to assess",
            "Less liquid or harder-to-value underlying exposure language",
            "PRIIPs comprehension alert language"
        ],
        "plain_english_explanation": "The available evidence identifies features that may affect ordinary retail investor understanding. The assessment describes product-level mechanics only and does not judge the knowledge or experience of a specific client.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "priips_comprehension_alert",
            "quote": "You are about to purchase a product that is not simple and may be difficult to understand."
        },
        {
            "source": "FACTSHEET",
            "signal": "crypto_digital_asset",
            "quote": "100% physically backed by its underlying assets, the 21shares Bitcoin Gold ETP (BOLD) combines gold's proven success and Bitcoin's emerging role"
        }
    ],
    "supporting_data": "Hard complex product feature identified: PRIIPs comprehension alert. Policy mode: balanced. Product type: ETP. UCITS signal not identified. Replication method: physical.",
    "missing_data": [
        "priips_kid",
        "ucits status is unclear: the product is described as 'UCITS Eligible' on the factsheet, but it is an ETP under Swiss law, not a UCITS fund. Set to false."
    ],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified"
    ],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/CH1146882308_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11455,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/CH1146882308.txt",
            "found": false,
            "http_code": 404,
            "bytes": 1251,
            "error": "http_404"
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/CH1146882308_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 20127,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=CH1146882308&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 494,
            "error": null
        }
    }
}