In recent filings, the crypto asset management firm stated that Stellar (XLM), Zcash (ZEC), and Horizen’s (ZEN) native cryptocurrencies may be termed as securities based on the facts as they exist today. In addition, Grayscale may put its trusts involving these three cryptos on hold if the SEC determines them as securities. ZEC, ZEN, and XLM account for about US$40 million out of Grayscale and approximately $18.7 billion in assets under management from funds and trusts.