Robinhood bucks crypto rout as Trump unveils child savings program
Robinhood’s stock shrugged off weakness across digital assets Monday, rising just over 2% after the Trump administration officially launched its Trump Accounts savings program — a rollout that included a ceremony with President Donald Trump ringing the opening bells at both Nasdaq and the New York Stock Exchange.
Why Robinhood moved
- The Trump Accounts initiative went live on Robinhood’s platform, with the brokerage and BNY Mellon named as official partners for the U.S. Treasury’s rollout. That direct involvement appears to have helped Robinhood shares trade near $114 after the announcement, up more than 2% on the day and extending a five-day gain to roughly 13%, per Yahoo Finance.
- The market backdrop was mixed: cryptocurrencies slid on the session, with Bitcoin dipping below $62,000 even as Robinhood climbed.
Wall Street remains optimistic
Several brokerages reiterated bullish views on Robinhood amid the development:
- Piper Sandler: Buy, $135 price target
- BTIG: Buy, $125 target
- Mizuho: Raised target to $130 from $115, maintaining Buy
Program details and high-profile contributions
- Trump Accounts will provide a federally funded $1,000 starter contribution for eligible children born between 2025 and 2028. Families can add money over time, creating long-term investment accounts for beneficiaries.
- At the White House ceremony, Michael Dell said he and Susan Dell will contribute $6.25 billion to cover 25 eligible children under the program. The launch also coincides with celebrations of the United States’ 250th anniversary.
Cryptocurrency: not yet included, but open to change
- Despite President Trump’s repeated support for digital assets, cryptocurrencies are not part of the initial Trump Accounts design. When asked whether Bitcoin might be added later, he replied, “Something could happen,” and reiterated ambitions to make the U.S. a global crypto hub. That hint of potential future inclusion is likely to be watched closely by crypto markets and platforms like Robinhood.
Criticism and concerns
- Economist and longtime Bitcoin critic Peter Schiff criticized the initiative on X, arguing the $1,000 federal contributions are financed through additional federal borrowing rather than new revenue. “The kids who get the money also inherit the debt,” Schiff wrote, calling for spending cuts instead of more borrowing.
- Schiff’s comments come amid broader scrutiny of fiscal trade-offs and prior criticism of market actors’ crypto moves, such as his remarks about a reported $216 million Bitcoin sale by Strategy.
Bottom line
Robinhood’s partnership role in the Trump Accounts rollout helped the stock buck a crypto selloff, while Wall Street analysts remain upbeat on the broker’s longer-term outlook. For crypto markets, the program’s exclusion of digital assets for now keeps pressure on prices, but the administration’s openness to change leaves the door ajar for possible future policy shifts that could affect demand for cryptocurrencies.
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