BNY Mellon, Robinhood to run Trump Accounts

April 6, 2026 at 15:13 UTC

3 min read

Illustration of BNY Mellon and Robinhood managing U.S. Treasury $1,000 starter accounts for children

Key Points

U.S. Treasury selects BNY Mellon and Robinhood (HOOD) to administer new Trump Accounts for children
BNY Mellon named financial agent to manage initial accounts and develop a dedicated app
Robinhood (HOOD) to act as brokerage and initial trustee for the investment accounts
Program will deposit $1,000 into accounts for children born 2025-2028, targeting about 25 million families

Treasury taps BNY Mellon and Robinhood

The U.S. Treasury Department has selected Bank of New York Mellon Corp. and Robinhood Markets Inc. to help administer new "Trump accounts" for children. The move was announced by the Treasury on Monday, marking a key implementation step for the program.

BNY Mellon has been designated as a financial agent of the U.S. government for this initiative. Robinhood has been chosen to provide brokerage services and to serve as the initial trustee for the accounts, according to multiple reports and a Treasury news release.

Structure of the Trump Accounts program

The Trump Accounts program was introduced by U.S. President Donald Trump and created in 2025 legislation championed by the Trump administration. It is designed as a new savings and investment vehicle geared toward children in the United States.

Under the program, the federal government will deposit $1,000 into investment accounts for all children born in the U.S. between 2025 and 2028. Reuters reported that the initiative targets approximately 25 million families.

The accounts have also drawn contribution pledges from several prominent business figures, according to Bloomberg Law News. These pledges are intended to add to the federally seeded balances in the new savings vehicles.

Roles of BNY Mellon and Robinhood

As financial agent, BNY Mellon will manage the initial Trump accounts on behalf of the U.S. government. The firm will also assist the Treasury in developing a dedicated Trump Accounts app aimed at giving families convenient access to their accounts.

Robinhood will serve as the brokerage for the program, executing investment transactions within the Trump accounts. In addition, Robinhood will act as the initial trustee, overseeing the accounts in line with the program’s rules and Treasury guidance.

Bloomberg reported that BNY Mellon will take the lead on initial account management and app development, while Robinhood focuses on the brokerage infrastructure and trustee responsibilities. Together, the companies will partner with Treasury to administer the program.

Technology and access for families

The Trump Accounts app is intended to provide families with easy access to view and manage these child-focused savings accounts. BNY Mellon is working with Treasury on the app’s design and development as part of its financial agent mandate.

By linking the accounts to a mobile platform, Treasury aims to make it simpler for families to monitor balances and understand how the initial $1,000 deposits and any additional contributions are invested over time.

Policy context and next steps

The Trump Accounts initiative is one of the savings-related measures enacted in the 2025 GOP tax law. The accounts are specifically targeted at children born during the 2025-2028 window, aligning with the statute’s eligibility criteria.

With BNY Mellon and Robinhood now formally named to administer the program, Treasury is moving into the implementation phase. Further operational details, such as investment options and account opening procedures, were not specified in the reports.

The combination of a traditional global custodian bank and a retail-focused investment platform reflects Treasury’s approach of pairing established infrastructure with app-based access for participating families.

Key Takeaways

The Trump Accounts program combines federal seed funding with private-sector administration, positioning BNY Mellon and Robinhood at the center of its rollout.
BNY Mellon’s role as financial agent extends beyond custody to technology development, underscoring Treasury’s emphasis on app-based account access.
Robinhood’s appointment as brokerage and initial trustee signals a focus on retail-style investment execution for millions of newly created child accounts.
Targeting children born from 2025 to 2028 and around 25 million families, the program represents a large-scale test of government-backed investment accounts for minors.