President Donald Trump rang the opening bell at the White House earlier today to mark the launch of Trump Accounts, a federally backed investment program that went live July 4 with $1,000 deposits for 1.4 million eligible children born between 2025 and 2028.
The ceremony marked the first time the Nasdaq and New York Stock Exchange jointly rang the opening bell from the Oval Office, according to Reuters and CNN. Officials from both exchanges participated in the historic moment to celebrate the new savings initiative.
Trump Accounts are tax-advantaged investment accounts designed for children under 18. Eligible children receive a one-time $1,000 federal seed contribution from the U.S. Treasury Department, and parents can contribute additional funds up to $5,000 annually per child, according to the IRS. All deposits are automatically invested in low-cost index funds tracking the S&P 500, with the State Street SPDR Portfolio S&P 500 ETF serving as the default investment vehicle, as reported by Yahoo Finance and CNBC.
Corporate support for the program has grown substantially ahead of and since its launch. Nearly three dozen companies and philanthropists have pledged to match the government’s initial $1,000 contribution for their employees’ children, according to Yahoo Finance. Goldman Sachs and Morgan Stanley announced on July 2 that they would match the federal contribution, joining Bank of New York Mellon, BlackRock, Charles Schwab, JPMorgan Chase, Robinhood, and Chipotle Mexican Grill, among others, according to CNBC. Employers can contribute up to $2,500 annually per employee on a tax-free basis, according to Mercer Advisors and Bloomberg Law News.
The accounts represent a significant shift in how the federal government approaches child savings. Prior government-backed savings initiatives, such as state-sponsored 529 college savings plans, required parents to take action and set aside funds themselves. Trump Accounts automatically provide seed money to eligible children without requiring prior enrollment, lowering barriers to entry for families across income levels. The IRS reports that more than 6 million children have been enrolled in Trump Accounts to date, with 1.4 million eligible for the federal seed deposit.
Investment options remain limited by design. Investor.gov and Fidelity note that Trump Accounts restrict investments to low-cost mutual funds or ETFs tracking broad U.S. equity indices, preventing individual stock picking or speculative trades. This structure aims to encourage long-term, diversified investing for children from birth through age 18.
Sources
- Reuters — Nasdaq and NYSE ring opening bell from Oval Office for Trump Accounts launch announcement
- CNN — NYSE and Nasdaq opening from Oval Office for Trump Accounts launch
- Nasdaq — Official event announcement for opening bell ceremony on July 6, 2026
- CNBC — Trump Accounts launched July 4 with employer matching programs; Goldman Sachs and Morgan Stanley matching announcements
- IRS — Trump Accounts pilot program details, $1,000 federal seed contribution eligibility
- U.S. Treasury Department — Trump Accounts program overview and eligibility criteria
- The New York Times — 1.4 million eligible children enrollment figure
- NBC News — More than 6 million children enrolled; 1.4 million eligible for seed deposit
- Yahoo Finance — Nearly three dozen companies pledging matching contributions; investment vehicle details
- Investor.gov — Investment options limited to low-cost index funds
- Fidelity — Trump Accounts investment restrictions
- Mercer Advisors — Employer contribution limits and tax-free structure
- Bloomberg Law News — Employer contribution caps and regulations
