U.S. Treasury sets Trump Accounts ETF lineup ahead of July 4 launch
Treasury said Trump Accounts will begin after July 4 with a $1,000 federal seed deposit for eligible newborns, approved low-cost U.S. equity ETFs, and added employer and private funding commitments including Micron’s previously announced $250 million pledge.
The Trump administration said Trump Accounts, also called 530A accounts, will launch after July 4 with a one-time $1,000 Treasury contribution for eligible babies born from 2025 through 2028. Treasury named State Street’s SPDR Portfolio S&P 500 ETF (SPYM) as the initial default investment and approved four other low-cost U.S. equity ETFs - IVV, VTI, SPTM and ITOT - while allowing contributions of publicly traded shares. Treasury said more than 6 million families have signed up, though about 1.4 million qualify for the federal seed money. Separately, Trump said on July 2 that Micron would invest $250 million in Trump Accounts, but Micron had previously announced that same commitment, which Treasury-related reporting described as a one-time $250 seed deposit in certain counties where the company operates. Reports also said firms including Chime, Empower, Fidelity and SoFi still lacked a mechanism to custody the accounts on their own platforms, with related guidance possibly not arriving until August.
- 530A accounts: Another name for Trump Accounts, a tax-advantaged savings and investment vehicle for eligible children.
- ETF: Exchange-traded fund that holds a basket of assets and trades on stock exchanges.
- custody: Holding and safeguarding client assets, including administering accounts on a financial platform.