Trump Accounts will offer primarily S&P 500 ETFs to keep investing simple, Robinhood CEO says

First publishedAug 20, 04:52 UTC

Last updatedAug 20, 05:41 UTC · 16m ago

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Robinhood, the official broker of Trump Accounts, said it wants to keep them "as simple as possible."The accounts currently offer only a State Street S&P 500 ETF.The Treasury previously said that more investment options would be added in the coming months.Trump Accounts will focus on the S&P 500 to keep investing "as simple as possible," said Robinhood CEO Vlad Tenev.In an interview with CNBC released on Wednesday, Tenev was asked whether Trump Accounts users will only have the option to invest in the S&P 500 via the platform in the long term. Trump Accounts are investment accounts for children, launched by the Trump Administration in July."That's correct," Tenev replied. "Right now, you can get the S&P 500 through a low-cost ETF provided by State Street." State Street is a financial services and investment management company based in Boston."And we wanted to make it as easy as possible for every American, starting at birth, to get access to the great American economy, to get ownership of these companies from birth and see the magic of compound interest," he added. "So we wanted to make it as simple as possible."The executive said that "over time," there has been discussion about adding more investment options.

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  Trump Accounts will offer primarily S&P 500 ETFs to keep investing simple, Robinhood CEO says

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