Robinhood CEO says Trump Accounts give kids S&P 500 access

Robinhood Markets Inc. (NASDAQ: HOOD ) CEO Vlad Tenev said Wednesday that Trump Accounts currently offer children access to the S&P 500 through a low-cost exchange-traded fund. In an interview on CNBC’s "Squawk Box," Tenev discussed Trump Accounts, tokenization, crypto regulation, prediction markets and agentic trading. He said the program currently provides S&P 500 exposure through a low-cost ETF from State Street.

S. companies. "Right now you can get the S&P 500 through a low cost ETF provided by State Street," Tenev said. " He said Robinhood wanted to keep the initial investment option simple.

"So we wanted to make it as simple as possible," Tenev said. " Tenev added that the current approach provides a diversified portfolio of prominent companies. "But I think the default of a diversified portfolio of the most prominent companies has been a great way to start and has been very effective," he said. Trump Accounts Expand Early Investing Trump Accounts are tax-deferred investment accounts for eligible children.

S. Treasury, while families, employers and other contributors can make additional contributions. Robinhood launched its Trump Accounts app in June ahead of the program’s July 4 rollout. S.

stock index funds and exchange-traded funds. In July, Tenev said Trump Accounts were gaining customers faster than many of America’s "most successful and dynamic tech companies" as enrollment approached 6 million. The program has also attracted corporate support. Strategy Inc.

S. employees and make a one-time $1,000 contribution for qualifying children born on or after Jan. 1, 2025. Read Also: Zohran Mamdani Sues NYC Council Over $10,000 School Aide Bonus: ‘Political Process’ Can’t Replace Collective Bargaining Government Aims to Expand Enrollment Internal Revenue Service Chief Executive Officer Frank Bisignano said in July that the government wanted every eligible American family to enroll their children in Trump Accounts, setting a long-term goal of reaching 70 million children under 18.

Bisignano said the government was working with tax-preparation companies and exploring partnerships with banks to make enrollment easier. The push comes as the program continues to build private-sector support. Robinhood is serving as an initial broker alongside The Bank of New York Mellon Corp. (NYSE: BNY ), while companies including Coinbase Global Inc.

(NASDAQ: COIN ), Circle Internet Group Inc. (NYSE: CRCL ), Morgan Stanley (NYSE: MS ) and Goldman Sachs Group Inc. (NYSE: GS ) have announced contributions or related commitments. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors.

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