BNY Mellon has been designated by the US Department of the Treasury as the financial agent for the Trump Accounts program, a government-backed initiative that will seed investment accounts for American children with $1,000 each. The bank will partner with Robinhood to build the brokerage infrastructure and deliver the accounts through a consumer-facing app.
The program is scheduled to go live on July 4, 2026, a date chosen to coincide with the 250th anniversary of American independence.
How the program actually works
The Treasury will contribute $1,000 to each eligible child’s account. Families and employers can then layer on additional contributions starting in July.
The default investment vehicle is the State Street SPDR Portfolio S&P 500 ETF. The accounts are designed for participants under the age of 18, with a clear emphasis on long-term holding rather than active trading.
