Robinhood CEO: Trump’s account will attract the next generation of investors, with more than 4 million children already registered

Gate News news, April 7, Robinhood CEO Vlad Tenev said that the “Trump Accounts” that the company is rolling out in collaboration with the U.S. Department of the Treasury will give Robinhood access to the next generation of investors and drive future growth. Vlad Tenev said in an interview with CNBC: “This will bring Robinhood to the next generation… for millions of children, this will be their first investment account.” He emphasized that in the short term, the company’s focus is on partnering with the U.S. government rather than earning directly through the accounts, and that the accounts will be free of fees and commissions. Previously, the U.S. Department of the Treasury announced that Robinhood and BNY Mellon (Bank of New York Mellon) were selected as partners to open tax-deferred custodial investment accounts for children born from 2025 to 2028, with Robinhood serving as the broker and custodian and partnering with BNY to provide the front-end app and customer support. As of March 31, more than 4 million children have registered for the Trump Accounts, and over 1 million children qualify for the Treasury’s $1,000 starter funds pilot program. Several financial institutions, including JPMorgan Chase, Bank of America, Wells Fargo, SoFi, BlackRock, and Charles Schwab, will match the federal starter funds for employees’ children.