Millions of American children have been signed up for Trump Accounts as the federal government’s new tax-advantaged investment program begins deploying Treasury-funded capital through infrastructure involving BNY and Robinhood.
The program officially began funding accounts in July, with eligible U.S. children born between January 1, 2025 and December 31, 2028 entitled to receive a one-time $1,000 contribution from the U.S. Treasury.
Early enrollment significantly exceeded the 600,000 figure cited during the program’s initial rollout. Treasury Secretary Scott Bessent said in January that approximately 500,000 Americans had elected to establish accounts only three days into the 2026 tax filing season.
By February, Treasury was reporting registrations covering approximately 3 million children. The government has since launched a dedicated Trump Accounts application through which families can activate and manage the accounts.
Robinhood Becomes Part of Federal Account Infrastructure
Robinhood’s involvement goes considerably beyond promoting the initiative. In April, the Treasury Department designated BNY as the official financial agent supporting Trump Accounts. BNY subsequently partnered with Robinhood, which Treasury said would serve as the brokerage and initial trustee for the accounts.
The structure gives Robinhood a role in the investment infrastructure underlying a federal savings program potentially available to tens of millions of American children. Trump Accounts officially began receiving government contributions in July. Robinhood separately announced that eligible families could activate accounts through the program and begin making additional contributions.
The accounts are designed to invest in diversified U.S. equity index funds rather than allowing unrestricted trading. Children generally cannot withdraw funds before reaching 18. The program creates a potentially enormous pool of long-duration investment capital.
Treasury and the IRS estimate that the broader Trump Account framework could eventually affect approximately 73 million children in 44 million families.
$1,000 Government Contribution Starts Investment Cycle
The federal contribution applies specifically to qualifying children born from 2025 through 2028. For other U.S. children under 18, families can still establish Trump Accounts, but they do not automatically receive the $1,000 Treasury seed. Beginning in July, parents, relatives and other eligible contributors can add as much as $5,000 annually to each account. Employers can also contribute, with tax rules allowing qualifying employer payments of up to $2,500 annually under the new framework.
A growing group of major companies has announced plans to support employees’ Trump Accounts. Bessent has identified firms including Robinhood, Coinbase, Visa, Mastercard, Block, SoFi, JPMorgan, Bank of America and Charles Schwab among companies announcing various contribution or matching initiatives.
Private philanthropy is expanding the program further. Michael and Susan Dell have pledged $6.25 billion to provide $250 contributions to as many as 25 million children, while Ray and Barbara Dalio have pledged $75 million targeting more than 300,000 children in Connecticut.
The scale makes the program significant for U.S. capital markets as well as household savings. Unlike a direct government cash payment, the initial $1,000 is invested and generally remains locked for years, creating long-duration exposure to U.S. equities. Robinhood’s position in that system is particularly notable.
The company grew from a commission-free retail brokerage into a broader financial platform spanning equities, options, cryptocurrencies, prediction markets and retirement products. Serving as brokerage and initial trustee for Trump Accounts now connects that infrastructure directly to a Treasury-backed national savings initiative.
For Robinhood, the opportunity could also create relationships with investors before they reach adulthood. For the government, the objective is broader: establish investment ownership early enough that compounding and additional private contributions can build meaningful assets before children enter adult life.
With sign-ups already measured in millions rather than hundreds of thousands, Trump Accounts are moving rapidly from a tax-policy initiative into one of the largest experiments in government-seeded retail investing in the United States.
