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        "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.",
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        "captured_at_utc": "2026-06-14T10:16:58+00:00",
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    "review_required": false,
    "decision_rule_applied": "balanced_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "Global X Blockchain UCITS ETF",
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    "type": "ETF",
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    "asset_class": "Equity",
    "replication_method": "physical",
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        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "swaps": true,
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        "unfunded_swap": true,
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        "contango_backwardation": false,
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        "clo_exposure": false,
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            "Counterparty risk language identified",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
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        "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."
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        },
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            "quote": "financial derivative instruments (\u201cFDIs\u201d), namely, total return \u201cunfunded\u201d OTC swaps and exchange-traded equity futures for investment purposes"
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            "quote": "total return \u201cunfunded\u201d OTC swaps"
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        {
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            "signal": "counterparty_risk",
            "quote": "Derivatives are subject to counterparty risk (including potential loss of instruments)"
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "To the extent the Fund undertakes securities lending, the Fund will receive 87% of the associated revenue generated from securities lending activities"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Fund may invest in FDIs to hedge against risk and/or to increase return"
        }
    ],
    "supporting_data": "ETF has evidenced core or synthetic swap usage. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [
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        "illiquid_or_hard_to_value_underlying"
    ],
    "warnings": [
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    "sources": {
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            "http_code": 200,
            "bytes": 13831,
            "error": null
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            "http_code": 200,
            "bytes": 13489,
            "error": null
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            "found": true,
            "http_code": 200,
            "bytes": 62,
            "error": null
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        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE000XAGSCY5&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 544,
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