Trump Accounts for Kids: Eligibility, Benefits and How the Programme Works

US President Donald Trump on Monday rang the opening bell for both the New York Stock Exchange and the Nasdaq from the Oval Office, marking the first time the ceremony has been jointly held from the White House, to celebrate the launch of Trump Accounts, a new investment programme for American children.

First Joint Bell Ringing From The Oval Office

The event, held at 9:30 a.m., saw Trump joined by Treasury Secretary Scott Bessent, Republican Senator Ted Cruz, tech billionaire Michael Dell and his wife Susan Dell, NYSE president Lynn Martin, Nasdaq executives, and several other CEOs and officials, including SEC Chair Paul Atkins and Intercontinental Exchange CEO Jeffrey Sprecher.

Trump Rings Opening Bell From Oval Office To Mark Launch Of Trump Accounts For American Children

NOW - Trump rings the New York Stock Exchange opening bell from the Oval Office, launching Trump Accounts, for kids. pic.twitter.com/tI0XPUpVDy

— Disclose.tv (@disclosetv) July 6, 2026

Trump Says Accounts Will Grow With The Economy

Calling the initiative a major step toward building long term wealth, Trump said the accounts would grow alongside what he described as a booming US economy.

"Today with the ringing of the opening bell for the stock market, those accounts will now begin to grow right along with our booming economy. And I really believe we're going to have the biggest boom of all right now," Trump said during the event.

The president also announced that approximately USD 800 million would be invested this week through a combination of government seed funding and private contributions. What Donald Trump Meant by ‘One Shot’ Remark As Iran Holds Funeral for Ayatollah Ali Khamenei.

"You haven't seen anything yet. Between individual contributions and the seed funds, $800 million in new capital will be invested in the stock market for America's children this week," Trump said.

What Are Trump Accounts

Trump Accounts were created under the One Big Beautiful Bill Act, the package of tax cuts and reforms passed by Republicans through Congress and signed into law by Trump last year. The accounts function as an individual retirement account (IRA) without a gift tax, and are aimed at encouraging long term investing for children by allowing funds to be invested in the stock market from an early age. Donald Trump Shares AI-Generated Image of Barack and Michelle Obama With 'Alhamdulillah' Graffiti on Air Force One.

"This is about the Trump Accounts, which are absolutely incredible for children. Children at the age of 18, and after, become very wealthy people, come into the world with essentially no money and end up at a pretty young age being very rich," Trump said, adding that it was something "this country's wanted to do for 25 years."

The accounts officially became operational on Saturday, July 4, with Monday's ceremony marking the first day of trading.

Seed Funding And Private Donations

On July 4, the administration deposited one time seed contributions of USD 1,000 each into the Trump Accounts of over 500,000 American children. Michael and Susan Dell, who had earlier pledged USD 6.25 billion to help fund the initiative, also contributed USD 250 each to the accounts of children aged 10 and under.

As of last week, more than 6 million families had signed up to create an account, according to the Treasury Department. At launch, the State Street SPDR Portfolio S&P 500 ETF (SPYM) was the only investment option available, though the Treasury Department has indicated four more ETFs will be introduced in the coming months.

Officials Call It A Long Term Legacy

Treasury Secretary Scott Bessent described the initiative as one of the president's "most enduring legacies," saying its benefits would extend across generations. Bessent added that the American dream belongs to every child, and the accounts are meant to help the next generation claim their share of it.

Trump Accounts will be available for children who do not turn 18 before the end of the calendar year in which their parents open an account, according to the IRS.

(The above story first appeared on LatestLY on Jul 06, 2026 08:50 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).