Original | Odaily Planet Daily (@OdailyChina)

Author｜Azuma (@azuma_eth)

On July 4, the U.S. Treasury officially announced the long-awaited "Trump Accounts" have officially launched. American parents and children can now download the app and access the accounts to view their fund status in real-time or make donations.

• Odaily Note: The so-called "Trump Accounts," also known as 530A Accounts, are tax-deferred investment account plans authorized by current U.S. President Trump on June 9, 2025, based on the "Big and Beautiful" Act. These accounts are open to all minors under 18 years old across the U.S., aimed at establishing government-funded savings accounts for the children of American citizens.

The initial funding for the "Trump Accounts" mainly comes from government grants, private donations, and family deposits. The federal government will provide $1,000 in initial funding for each American citizen child born between January 1, 2025, and January 1, 2029; in addition, the largest donor, Dell founder Michael Dell and his wife, announced last December that they would donate $6.25 billion to open accounts for 25 million children from households with a median income of less than $150,000, injecting $250 into each account; parents, friends, and other specified individuals can also deposit into designated accounts, such as through "employer donation" channels. Over 50 companies have already committed to donating for their employees' children.

According to current regulations, the funds in the "Trump Accounts" will be invested in index funds tracking the U.S. stock market. Children can withdraw 50% of the account balance upon reaching 18 years of age, and can withdraw the entire balance starting at 25 years old. Account earnings will be taxed at long-term capital gains rates or income tax rates.

Trump Calls the Market, Dell Stock Soars

On July 6, local time, Trump held a celebration event for the launch of the "Trump Accounts" in the Oval Office at the White House and personally rang the opening bell for the New York Stock Exchange and Nasdaq to commemorate the first market opening after the comprehensive launch of the "Trump Accounts."

Trump announced boldly on-site: "Today is a historic day. On the occasion of the 250th anniversary of the founding of America, we are launching 'Trump Accounts'… to ensure that every American child has the advantage of winning at the starting line and a fair chance to achieve the American dream."

Trump also praised the largest donor of the "Trump Accounts," Michael Dell and his wife, urging the public to "go buy a Dell computer," and jokingly stated, "We will always find a way to help him earn this money back."

Influenced by the President's public call, Dell's stock price surged more than 3% during yesterday's trading, closing at $411.8, a rise of 4.43%.

Treasury Allows Stock Donations, SpaceX Follows Suit

Along with the launch of the "Trump Accounts," the U.S. Treasury has opened new funding channels for the account.

On July 2, the Treasury officially announced that the "Trump Accounts" will begin receiving stock donations, and eligible charitable donors can donate approved publicly listed stocks to the account.

After the Treasury opened the green light, Trump also publicly called out Musk, urging him to donate SpaceX stocks to the "Trump Accounts." As of the time of writing, although Musk himself has not publicly responded, SpaceX President and COO Gwynne Shotwell and her husband have announced they will donate part of their SpaceX stock to the Trump Accounts for over 2 million American children, with an estimated donation of about 2 million shares of SpaceX stock, valued at approximately $325 million.

Gwynne Shotwell stated that the donation will be specifically used for accounts of 11 to 17-year-old children living in areas with lower average household incomes, particularly focusing on children living near the central Texas area.

From a corporate perspective, participating in the "Trump Accounts" is not simply a charitable act; it may also become a new channel for brand exposure. Especially after Trump's public call for Dell, the market has begun to pay attention to a new logic — the earlier companies participate in projects that Trump is highly attentive to and personally promotes, the more likely they are to receive the President's public endorsement.

With SpaceX's follow-up, more technology companies, large enterprises, and wealthy individuals are expected to join this plan in the future. For companies, donating some stocks does not directly weaken their operational capabilities, but it may exchange for long-term political exposure, brand value, and potential user reach — it is not a losing transaction.

Which Entities May Benefit?

From an investment perspective, the greatest significance of the "Trump Accounts" lies in the creation of a new funding pool that may last for decades. Combining the operational mechanism and access paths of this funding pool, along with Trump's current proactive actions, the potential beneficiary entities regarding this account mainly include three levels.

Firstly, the direct funding flow of the "Trump Accounts" — the S&P 500 index. According to the rules published by the U.S. Treasury, at the start of the "Trump Accounts," all funds will be invested in the "State Street SPDR S&P 500 ETF" (SPYM), which is a low-cost exchange-traded fund (ETF) aimed at tracking the performance of the S&P 500 index. Additionally, the Treasury has also chosen other ETF index funds like IVV, VTI, SRTM, ITOT for the investment portfolio of the "Trump Accounts."

According to data from Statista, since 2020, the annual birth population in the U.S. has been about 3.6 million. Based on this estimate, during the period from January 1, 2025, to January 1, 2029, the eligible newborn scale is approximately 14.4 million. If each child receives the federal government's initial funding of $1,000, the total government investment would reach about $14.4 billion. Along with the Dells' donation, employer contributions, and subsequent family deposits, the account asset scale could further expand to tens of billions of dollars. If this plan is sustained in the long term, it is expected to become a new long-term source of incremental funds for the U.S. capital market.

Secondly, the access path of the "Trump Accounts" — BNY Mellon, Robinhood. As of now, only two partners have been disclosed for the "Trump Accounts," namely the designated financial agency BNY Mellon and the designated broker and initial trustee Robinhood, which is also responsible for developing the application for the "Trump Accounts."

For these two companies, the core significance of the "Trump Accounts" lies in its long-term value — the U.S. will have a newborn population exceeding millions, and these accounts represent tens of millions of potential long-term customers, decades of account lifecycles, and investment, trading, and wealth management transfer opportunities after adulthood. This is similar to the logic of financial institutions competing for IRA and 401(k) users. If the "Trump Accounts" ultimately become the default gateway for American children to enter the capital market, then platforms that control the entry point may gain a continuously valuable user asset pool.

Among them, Robinhood, which directly faces users, is particularly worth noting, as this could be a significant opportunity for it to transition from a "young trader application" to a "mass wealth management platform."

• Odaily note: Reference the article "Robinhood Gained a New Batch of Stock Investors, the Oldest is 1 Year, the Youngest is -3 Years".

Thirdly, the early donation entities — those who give the President face first will be favored more. Referring to the Dell case, such donations can no longer be simply understood as pure charitable acts. Trump has publicly praised Dell through White House events and actively created exposure for its brand.

As the political chip most valued by Trump at the moment, with more enterprises joining in the future, early participants may receive public promotion at the presidential level, enhancing brand influence; and have opportunities to establish closer ties with government resources.

Oh, and one more thing… During yesterday's event, Trump was asked whether the accounts might include Bitcoin, and he responded, "Maybe."

From Policy Dividends to Long-Term Capital Entrances

It is important to note that the "Trump Accounts" are still in the early stages of launch, and their true impact scale will depend on subsequent funding volumes, corporate participation, and policy continuity.

In the short term, the market is more easily traded on the emotional value brought by Trump's public endorsement and the exposure effects gained by early participating enterprises; but from a longer-term perspective, if this plan can continue to advance, it may become a new wealth entrance connecting the next generation of American consumers, capital markets, and financial institutions.

In a sense, the "Trump Accounts" are attempting to replicate the path of the U.S. retirement account system — creating an entrance through government policies and then having financial institutions and capital markets take on long-term funds. For investors, what may truly be worth paying attention to is not which company Trump calls out next, but who can occupy the most core position in this decades-long funding pool.

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