The White House has completed automatic enrolment for its Trump Accounts programme, creating investment accounts for nearly 70 million American children.

More than 60 million accounts were opened automatically for social security number holders under 18. President Trump and Treasury Secretary Scott Bessent marked the milestone at an Oval Office event on October 7.

Every eligible child gets a 1,000-dollar seed contribution if born between January 1, 2025 and December 31, 2028. The Dells have pledged 6.25 billion dollars, funding 250-dollar contributions for about 25 million children in zip codes with median incomes at or below 118,000 dollars.

The money is invested in an S and P 500 index fund. Parents must claim the accounts through an app to manage them and add contributions; the funds become accessible when the child turns 18.

The programme, created under recent tax legislation, is one of the largest child-wealth initiatives in US history, though critics question whether it does enough for the poorest families.