「Trump Account」 registrations exceed 7 million, US Treasury Secretary calls it the 「most successful government launch in history」

BlockBeats News, July 28th – U.S. Treasury Secretary Scott Bezent stated that the "Trump Accounts" have become the "most successful government launch in U.S. history," with approximately 7 million children now registered.

Bezent revealed during a Financial Literacy and Education Commission meeting that the project's registration numbers have further increased from the 6.5 million reported earlier this month. The U.S. Treasury Department announced that the early registration pace of the Trump Accounts has outperformed other digital platforms and financial products.

The Trump Accounts were officially launched on July 4th and are also known as 530A accounts, open to all U.S. children under 18 years old who have a Social Security number.

According to the plan, children born between 2025 and 2028 will receive a one-time $1,000 initial deposit from the U.S. Treasury Department. Parents, guardians, grandparents, etc., can also contribute an additional maximum of $5,000 per year, with the funds being invested in an ETF tracking the S&P 500 index.

Bezent stated that this project will help ordinary American families enter the capital market, "creating a new generation of shareholders," allowing families that have long been excluded from Wall Street to participate in stock investments.

A previous analysis by consulting firm McKinsey suggested that with widespread participation, the Trump Accounts could accumulate assets of approximately $80 billion to $900 billion for American children over the next decade. However, the final scale will depend on the family participation rate, willingness for continued contributions, and the long-term investment performance.