The number of "Trump Account" registrations exceeds 7 million, with the U.S. Treasury Secretary calling it "the most successful launch project in government history"

BlockBeats News, July 28, US Treasury Secretary Scott Bessent stated that “Trump Accounts” have become “the most successful launch project in the history of the US government,” with about 7 million children registered so far.

Bessent revealed at the Financial Literacy and Education Commission meeting that the number of registrations for this project has further increased from 6.5 million earlier this month. According to the US Treasury Department, the early registration speed of Trump Accounts has surpassed other digital platforms and financial products.

Trump Accounts, officially launched on July 4 and also known as 530A Accounts, are open to all US children with a Social Security Number who are under 18 years old.

According to the plan, children born from 2025 to 2028 can receive a one-time initial deposit of $1,000 from the US Treasury Department. Parents, guardians, grandparents, and others may additionally deposit up to $5,000 annually, and funds will be invested in an ETF tracking the performance of the S&P 500 Index.

Bessent said the project will help ordinary American families enter the capital market, “creating a new generation of shareholders” and allowing families long excluded from Wall Street to participate in stock investing.

Consulting firm McKinsey previously analyzed that with widespread participation, Trump Accounts could help US children accumulate between $80 billion and more than $900 billion in assets over the next decade. However, the final scale will depend on household participation rate, sustained contributions, and long-term investment performance.