Robinhood says Trump Accounts will initially offer only S&P 500 ETFs

Robinhood chief executive Vlad Tenev told one outlet that the Trump Accounts program, launched by the administration in July, will initially limit participants to a State Street-provided S&P 500 ETF, emphasizing simplicity for newborn investors. He said the index offers a diversified mix of leading U.S. companies and serves as an effective entry point. The Treasury, which designated The Bank of New York Mellon Corporation as the program’s financial agent, will deposit $1,000 into accounts for children born from 2025 to 2028, and Robinhood will act as the official broker.

While the State Street ETF is the default, the Treasury listed four other low-cost index ETFs that could become available in the coming months. Corporate sponsors such as Goldman Sachs, Micron, Bank of America and BlackRock have agreed to match government contributions, and private donors including SpaceX president Gwynne Shotwell and Dell CEO Michael Dell and his wife Susan have made sizable gifts.