Trump's account officially launched: Who is paying for America's next generation?

Tao Zhu, Golden Finance

Summary: On July 4, 2026, the "Trump Account," designed to facilitate stock market investments for minors in the United States, was officially launched. The U.S. Treasury Department stated that this is an innovative savings and investment platform designed to ensure that future generations of Americans have a stake in the U.S. economy from day one.

What is the Trump Account? Will it accept cryptocurrency donations in the future? Who has donated?

I. Overview of the "Trump Account"

1. What is the Trump Account?

The Trump Account, also known as the 530A Account, is a stock market index investment account established for the children of U.S. citizens. The Trump Account was initially authorized by the One Big Beautiful Bill Act (OBBBA) of 2025.

The Trump Account began accepting its first deposits on July 4, 2026 (the 250th anniversary of the Declaration of Independence).

In April 2026, the U.S. Treasury Department announced the designation of BNY Mellon as the financial agent managing the initial accounts. The bank also partnered with Robinhood to develop the Trump Account app and provide customer service. 2. Where do the account funds come from? The U.S. government and private donors will provide deposits for some children's Trump Accounts. Specifically, starting July 4, employers, state governments, nonprofit organizations, family members, or anyone can contribute to the account, with an annual contribution cap of $5,000, except for contributions from state governments or nonprofit organizations. 3. How do the account funds grow? Upon account registration, eligible accounts will automatically receive a one-time, tax-free grant of $1,000 from the federal government. This funding, and any subsequent contributions, will be automatically invested in an index fund that tracks the S&P 500 index, which in turn tracks the performance of the top 500 companies by market capitalization on the U.S. stock market. According to the U.S. Treasury Department, funds deposited into the Trump account will be invested in the State Street SPDR S&P 500 ETF. This ETF will remain the default investment for the funds in the coming months, and the Treasury Department stated that it expects to provide other investment options for parents and guardians in the near future. 4. When can the account funds be accessed? The account is opened in the child's name, with the parents as the sole guardians, until the child turns 18. Funds in the account cannot be accessed before the child turns 18, at which point they can be withdrawn for eligible expenditures, such as education or purchasing a first home. 5. How does it differ from other investment accounts? Compared to some other investment accounts (such as 529 accounts, traditional IRAs and Ross IRAs, Health Savings Accounts, 401(k) accounts, and 403(b) accounts), the Trump account generally has more restrictions and fewer tax benefits. 6. Are there many applicants? Currently, approximately 6 million children have registered for the account, but only 1.5 million of them are newborns eligible for the $1,000 taxpayer subsidy. II. How much will the Trump Account have in 18 years? Based on the historical average of the S&P 500, if no other investments are made besides the initial $1,000, the Trump administration estimates that the Trump Account will be worth $6,000 when the child turns 18. If the maximum annual contribution is $5,000, the account could be worth up to $271,000 after 18 years. A spokesperson for the U.S. Treasury Department stated, "The Trump Account creates a level playing field by allowing every parent to invest in their child's future, not just wealthy families with trust funds." However, experts worry that this initiative could disproportionately benefit wealthy Americans. Stanford University economists Neil Mahoney and Adam Shaw point out: "While the program is open to all children, its beneficiaries will primarily be families capable of contributing thousands of dollars annually. What could have been a fair tool now risks exacerbating the wealth gap." III. Will Trump's Account Accept Cryptocurrency Donations? As of now, the U.S. Treasury Department has not officially announced that Trump's account can directly hold crypto assets such as Bitcoin and Ethereum, nor has it issued specific rules allowing donations using digital assets. However, this does not mean that cryptocurrencies are unrelated to Trump's account. On July 6, when asked in a media interview whether his account might include Bitcoin in the future, Trump responded, "It could happen." On the same day, he reiterated that he is a "big fan" of cryptocurrencies and stated that digital assets have become an important part of American financial innovation. Since Trump's second term, he has consistently maintained a crypto-friendly stance. At the 2024 Bitcoin conference, Trump personally attended and gave a speech, stating that he wanted to ensure the United States became a global leader in Bitcoin and cryptocurrencies. If the Trump Account does indeed accept cryptocurrency investments in the future, it may favor investments in spot Bitcoin ETFs, digital asset index funds, etc., rather than directly holding mainstream cryptocurrencies such as BTC or ETH. IV. Which industries will benefit from the Trump Account? As the Trump Account plan continues to advance, more and more long-term funds will flow into the US capital market, and more industries are expected to benefit. 1. Index Funds The biggest feature of the Trump Account is that it directs the vast majority of funds to low-cost index funds, rather than allowing investors to select stocks themselves. According to the investment arrangements announced by the U.S. Treasury Department, the default investment target for the Trump Account upon its launch is State Street's SPDR Portfolio S&P 500 ETF (SPYM). In the future, several low-fee index funds will be gradually opened for parents to choose from, including BlackRock's iShares Core S&P 500 ETF (IVV), Vanguard's Total Stock Market ETF (VTI), State Street's SPDR Portfolio S&P 1500 ETF (SPTM), and BlackRock's iShares Core Total U.S. Stock Market ETF (ITOT). Thus, the Trump Account will add a new source of long-term capital to the U.S. ETF industry. 2. Beneficial to Asset Management Institutions The U.S. Treasury Department's investment products mainly come from three global index investment giants: State Street, BlackRock, and Vanguard. These institutions have long managed the world's largest index funds and are also key managers of US pension funds, retirement accounts, and institutional funds. As the number of people covered by Trump accounts continues to expand, the account's asset size will also continue to grow. Although index fund management fees are generally low, asset management companies can still obtain stable management fee income due to the long investment period and large scale of the funds. 3. Brokerages Gain More Clients The US Treasury Department appointed Bank of New York Mellon as the financial agent for Trump accounts, with Robinhood acting as the initial broker and trustee involved in account management. The two parties also jointly developed the official account application. As more and more families begin using Trump accounts, related platforms will not only gain business opportunities in account management and customer service, but also establish long-term relationships with young families. These children's accounts are expected to become an important entry point for wealth management institutions to acquire family clients in the future, and when account holders reach adulthood, they may further transform into clients such as securities investors. 4. The Crypto Industry While Trump did not explicitly state that he would directly invest in crypto assets, his response that "this could happen" has sparked much speculation. As the Trump administration continues to signal its support for digital asset innovation, crypto assets may one day also open the door to Trump's accounts. V. Who Has Donated to Trump Accounts? On Monday, Trump rang the opening bells at the New York Stock Exchange and Nasdaq, marking the first trading day for the newly launched children's "Trump Accounts." Trump stated, "As the stock market bells ring, these accounts will grow alongside our booming economy, and I truly believe we are about to experience the greatest prosperity in history. This week, including personal donations and seed funding, $800 million of new money will be injected into the stock market, benefiting American children." Currently, at least 88 companies, foundations, individuals, and states have announced donations to these accounts.

Specific information is as follows:

1. Dell Technologies

Dell Technologies founder Michael Dell and his wife Susan donated $6.25 billion to help 25 million children under the age of 10 living in low-income areas. These children's accounts will receive an additional $250.

To express his gratitude to Dell, Trump even specifically urged Dell: "Go out and buy a Dell computer. Michael and Susan Dell are amazing. We will definitely help them make that money back, and then I will ask for another $6 billion."

Influenced by Trump's urging, Dell's stock price rose by 3% in the short term on July 6.

2. SpaceX

SpaceX President and CEO Gwen Shotwell announced that she has donated $350 million to the program. She noted that the donation will help children living in areas with lower average family incomes, "with a particular focus on children living near our homes in Central Texas. We are fortunate to have achieved some success in our careers, and we hope this donation will encourage the next generation to continue exploring so that humanity can live and fly in space."

3. Micron Technology

Semiconductor manufacturer Micron Technology announced that it will provide employees with a benefit that allows them to receive up to $1,000 in contribution matching for each child under the age of 18.

In addition, Micron Technology stated that it will provide a one-time $250 start-up fund as a community benefit to the children of Trump account holders who operate businesses in Idaho, New York, Virginia, California, Colorado, Minnesota, and Texas. In response to the donation, Trump stated, "This massive investment will help millions of American children and families get off to a good start and provide them with real financial security. My policies are working, and very well." He also expressed gratitude to Micron: "How's this going? Micron, a leading American company, announced it will contribute $250 million to the Trump Special Account to benefit the next generation of children, and its stock price jumped 9 points today. Thank you, Micron!" Other: Circle Internet Group, Inc. – Provides $1,000 in grants to the children of its U.S. employees. Robinhood Markets, Inc. – Provides $1,000 in grants to the children of its U.S. employees. Coinbase – Provides $1,000 in grants to the children of its U.S. employees. $1,000 grants.

Kraken—donates to the Trump account for every newborn in Wyoming in 2026.

Galaxy Digital, Inc.—provides a $1,000 grant for the children of its U.S. employees.

Morgan Stanley—provides a $1,000 grant for the children of its U.S. employees.

Goldman Sachs—provides a $1,000 grant for the children of its U.S. employees.

Franklin Templeton—provides a $1,000 grant for the children of its U.S. employees.

CrowdStrike—provides a $1,000 grant for the children of its U.S. employees.

American Securities Association—provides a $1,000 grant for the children of its U.S. employees.

Novelis—provides a $1,000 grant for the children of its U.S. employees.

$1,000 grants for the children of US employees. Nasdaq – $1,000 grants for the children of US employees. IntraFi – $2,500 grants for the children of US employees. S&P Global – $1,000 grants for the children of US employees. Vanguard Group – $1,500 grants for the children of US employees. Invesco – $1,000 grants for the children of US employees. The Heritage Foundation – $2,500 grants for the children of US employees. Replit – $1,000 grants for the children of US employees. Steak 'n Shake – $1,000 grants for the children of US employees. $1,000 in aid. Nvidia – provides aid to the children of its US employees. Chipotle – provides $1,000 aid to the children of its US employees. Uber – provides aid to the children of its US employees. Visa – provides aid to the children of its US employees. Anonymous donor in San Francisco – The donor donated $3.5 million, and every baby born in San Francisco in 2026 will receive $500 in their Trump account. Citigroup – provides $1,000 aid to the children of its US employees. Fox News – provides $1,000 aid to the children of its US employees. News Corp. – provides $1,000 aid to the children of its US employees. Acorns – provides $1,000 aid to the children of its US employees. $1,000 grants. State Street Bank – provides $1,000 grants to the children of its U.S. employees. Empower – provides $1,000 grants to the children of its U.S. employees. Wireless Communications Industry Association (CTIA) – provides grants to the children of its U.S. employees. IBM – provides $1,000 grants to the children of its U.S. employees. JPMorgan Chase – provides $1,000 grants to the children of its U.S. employees. Continental Resources – provides grants to the children of its U.S. employees. Chime Financial Inc. – provides $1,000 grants to the children of its U.S. employees. SoFi Technologies, Inc. – provides $1,000 grants to the children of its U.S. employees. Charles Schwab – provides $1,000 grants to the children of its U.S. employees. $1,000 grants. Investment Company Institute (ICI) – provides $1,000 grants for the children of its U.S. employees. Russell Investments Group, LLC – provides $1,000 grants for the children of its U.S. employees. BlackRock – provides $1,000 grants for the children of its U.S. employees. Bank of New York Mellon – provides $1,000 grants for the children of its U.S. employees. Charter Communications – provides grants for the children of its U.S. employees. Intel – provides $1,000 grants for the children of its U.S. employees. Bank of America – provides $1,000 grants for the children of its U.S. employees. Turning Point USA – provides $1,000 grants for the children of its U.S. employees. $100 grants. Mastercard – provides grants to the children of its U.S. employees. Comcast – provides grants to the children of its U.S. employees. Center for Freedom of the Economy – provides $2,500 grants to the children of its U.S. employees. Brownstein Hyatt Farber Schreck – provides grants to the children of its U.S. employees. Wells Fargo – provides grants to the children of its U.S. employees. Bridgewater Associates founders Ray Dalio and Barbara Dalio – donated $250 to 300,000 children in Connecticut. Brad Gerstner, founder of the Trump Account – donated $250 to all Trump Accounts for children under five in Indiana. Anand Legacy Foundation – donated $50 to Trump Account babies born in Kern County, California. $10,000. Broadcom – will donate to the children of its U.S. employees. Rapper Nicki Minaj – will donate $150,000 to $300,000 to fund her fans' Trump account. Block Inc. – will donate to the Trump account. WP Engine – details to be announced. iHeartMedia – details to be announced. Silver Lake Technology Management LLC – Details to be announced. Delta Air Lines – will donate to Trump accounts. Alabama, Arkansas, Idaho, Iowa, Louisiana, Missouri, Montana, Nebraska, North Dakota, Ohio, South Carolina, South Dakota, Tennessee, Florida, Georgia, Indiana, Mississippi, Nevada, New Hampshire, Texas, Utah, West Virginia, and Oklahoma will each set up a Trump account for each foster child in their state. Oklahoma will also donate $250 to all Trump account holders.