Robinhood stock popped as the White House unveiled the new “Trump Accounts” children’s savings program — a move that stood out even as crypto prices dipped.
What happened
- President Donald Trump officially launched the Trump Accounts program Monday, ringing the opening bells at both the Nasdaq and the New York Stock Exchange. The initiative is live on Robinhood’s platform, with BNY Mellon and Robinhood named as official partners for the rollout.
- Robinhood shares rose more than 2% to trade around $114 after the announcement, extending a five-day gain to roughly 13%, according to Yahoo Finance. That outperformance came even as the broader crypto market slipped, with Bitcoin dipping below $62,000 during the session.
Wall Street still bullish on Robinhood
- Analysts appear upbeat about Robinhood’s longer-term prospects despite recent volatility:
- Piper Sandler reaffirmed a Buy rating and a $135 price target.
- BTIG kept a Buy rating with a $125 target.
- Mizuho raised its target to $130 from $115 while maintaining a Buy.
These calls suggest investors see additional upside for the trading app beyond the immediate headline-driven boost.
Program details and high-profile donors
- Trump Accounts will deliver a federally funded $1,000 starter deposit for eligible children born between 2025 and 2028. Families can add funds over time, with accounts designed to be long-term investment vehicles for beneficiaries.
- Michael and Susan Dell pledged a total contribution of $6.25 billion on behalf of 25 eligible children at the launch.
- The program’s debut coincides with U.S. 250th anniversary events.
Crypto left out — for now
- Cryptocurrencies are not part of the Trump Accounts at launch. During the ceremony, Trump signaled that the program’s investment menu could change in the future, saying, “Something could happen,” when asked whether Bitcoin might eventually be included. He reiterated that he supports cryptocurrencies and wants the U.S. to be a global crypto hub.
Criticism and debate
- Economist and Bitcoin critic Peter Schiff slammed the program on X (formerly Twitter), arguing the $1,000 federal contributions are funded through additional government borrowing — effectively passing future debt to the children who benefit. His remarks follow broader skepticism from some corners about the fiscal implications of new entitlement-style initiatives.
- Schiff’s commentary also follows his critique of a reported $216 million Bitcoin sale by Strategy (previous reporting referenced that transaction), which he said involved losses — part of a continuing debate over institutional crypto moves.
Why it matters for crypto
- Robinhood’s stock lift shows how policy and retail-broker partnerships can drive market sentiment even when crypto prices move lower.
- Trump’s suggestion that digital assets could be added later keeps the door open for possible mainstream retail exposure to crypto through a high-profile federal program — a development the crypto industry will watch closely if policy or account rules evolve.
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