Trump accounts opened on July 4 with one fund and no choice yet

Treasury announced the investment lineup for Trump accounts on July 1, and the accounts opened on July 4. These are the accounts created by section 530A, added by H.R. 1, for children under 18 who have a Social Security number. At launch there is one option. Contributions are invested in the SPDR Portfolio S&P 500 ETF, ticker SPYM, and Treasury said it chose that fund for broad US equity exposure with expenses well under the statutory limit. The One Big Beautiful Bill Act caps the expense ratio at 0.1%. Four further funds were approved and become selectable later: IVV, VTI, SPTM and ITOT. Eric Revell at Fox Business reported the lineup. Separately, section 6434 provides a $1,000 federal contribution for children born after 31 December 2024 and before 1 January 2029.