Trump Accounts Go Live as NYSE and Nasdaq Ring Bells Together for the First Time

Two rival stock exchanges have never rung their opening bells together. On Monday, both did it from the Oval Office.

President Trump jointly opened trading for the New York Stock Exchange and Nasdaq from the White House to mark the first day of trading for "Trump Accounts," new tax-advantaged investment accounts created for American children under 18.

How the Accounts Actually Work

Trump Accounts were created under last year's One Big Beautiful Bill Act and opened for contributions on 4 July, with trading beginning Monday.

Every contribution must go into a low-cost, broadly diversified US stock index fund or ETF, with an expense ratio capped at 0.10%, and the initial default investment is an S&P 500 ETF.

Children born between 1 January 2025 and 31 December 2028 receive a one-time $1,000 seed deposit from the Treasury Department.

Combined family, friend and employer contributions are capped at $5,000 a year per account, a limit set to adjust for inflation starting in 2027.

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The Corporate Money Pouring In

Michael Dell and his wife, Susan, pledged $6.25 billion to fund $250 contributions for children age 10 and under in lower-income ZIP codes, a gift Trump specifically highlighted during Monday's event.

Bank of America, JPMorgan Chase, Visa and chipmaker Micron are among the large employers that have pledged to match the government's $1,000 contribution for their employees' children.

Treasury Secretary Scott Bessent said the Treasury will also begin accepting large philanthropic contributions in the form of publicly traded stock as another funding channel for the accounts.

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Why Officials Are Framing This as Historic

Bessent noted that 38% of American adults currently own no stock at all, framing the accounts as a way to close that gap over time.

"Our president is creating an ownership economy," Bessent said, describing the goal as helping "all citizens become shareholders."

Monday marked the first time the NYSE and Nasdaq have jointly rung an opening bell, and the first time either exchange has held the ceremony from the White House rather than its own trading floor.

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How the Money Can Be Used

Funds generally can't be withdrawn before the child turns 18, at which point the account converts into something functioning like a traditional IRA.

Withdrawals before age 59½ for non-qualified reasons trigger both income tax and a 10% early withdrawal penalty, though qualified uses — including education, a first home purchase, or starting a business — avoid that penalty.

At least 84 outside entities, including employers, foundations and state governments, have committed to contributing to the accounts, according to a list compiled by Americans for Tax Reform.

The Political Backdrop

Trump has increasingly tied his political standing to stock market performance ahead of November's midterm elections, even as a June AP-NORC poll found only 33% of American adults rate his handling of the economy positively.

Critics have flagged a structural downside: children with a Trump Account balance may become ineligible for certain other federal aid programs, including some student loan benefits, once they reach adulthood.

Immigration attorneys and advocacy groups have separately noted that the accounts' rollout comes during a period when the administration has pursued sweeping changes across other federal programs, adding to a broader pattern of significant policy shifts moving simultaneously.

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