Asset management firm Grayscale Investments has acknowledged that cryptocurrencies Zcash (ZEC), Stellar (XLM) and Horizen (ZEN) can be classified as securities. CoinDesk writes about this with reference to the organization’s documentation.

According to the publication, employees of the corporate finance and law enforcement departments contacted Grayscale. SEC. They were interested in analyzing the company’s investment products based on ZEC, XLM and ZEN in the context of securities law.

According to documents released by CoinDesk, Grayscale acknowledged that each of these assets “could be a security now” or “could be considered a security by the SEC or federal court in the future.”

The articles disclosed by the publication include papers dated May-August 2022. In previous filings, the company stressed that the regulator did not provide guidance on the classification of the assets in question.

As of August 26, 2022, the combined amount of assets managed by the Zcash Trust, Stellar Lumens Trust, and Horizen Trust is estimated at $39.11 million. For comparison, the Bitcoin Trust, the company’s largest trust, has a figure of $13.14 billion.

Grayscale Investments and CoinDesk are part of Barry Silbert’s Digital Currency Group.

Recall that in June 2022, Grayscale Investments filed a lawsuit against the SEC. This is because an application to convert the Bitcoin Trust into an exchange-traded fund was rejected by the Commission.

Craig Salm, head of the company’s legal department, said in July that the lawsuit against the regulator could take one to two years.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.