Investing.com -- Robinhood Markets Inc (NASDAQ:HOOD) shares gained 1.7% Thursday following the launch of the Trump Accounts app, a government-backed investment program for children.
The company announced that the official Trump Accounts app is now available for download, with the first activation emails sent from the U.S. Department of the Treasury. Robinhood Securities, LLC serves as initial trustee for Trump Accounts and holds account assets in a fiduciary capacity for beneficiaries.
The program, launching July 4, 2026, offers tax-advantaged investment accounts for eligible U.S. children under 18 with a valid Social Security number. Children born between 2025 and 2028 qualify for an initial $1,000 contribution from the Treasury. Family, friends, and employers can collectively contribute up to $5,000 annually to each account.
To participate, parents must file IRS Form 4547, download the Trump Accounts app on iPhone or at trumpaccount.com, and register for account activation. An Android version became available later Thursday. Contributions can begin July 4, 2026.
Contributions are automatically invested in a default qualifying low-cost index fund. Account holders can track contributions, activity, investment performance, and projected growth through the app. At age 18, the child takes control of the account and can choose to use the funds or continue investing, subject to rules that generally apply to traditional IRAs.
Trump Accounts are individual retirement accounts established under federal law and administered by the U.S. Department of the Treasury. Robinhood Securities acts on behalf of the Treasury through its designated financial agent.
Robinhood stock was initially lower before the announcement, moving in unison with Bitcoin, which fell 2.8% Thursday. Robinhood Financial LLC and Robinhood Securities, LLC provide brokerage and clearing services. Both are wholly-owned subsidiaries of Robinhood Markets, Inc.
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