Trump Child Accounts Put Initial Funds in State Street S&P 500 ETF
Updated
Updated · Bloomberg · Jul 2
Trump Child Accounts Put Initial Funds in State Street S&P 500 ETF
3 articles · Updated · Bloomberg · Jul 2
Summary
State Street’s SPDR Portfolio S&P 500 ETF will receive all initial contributions to the newly created Trump child accounts, the Treasury Department said Wednesday.
Treasury made the fund the default investment as it prepares to launch the program, giving early deposits a single starting option.
Four alternatives can be selected later: BlackRock’s iShares Core S&P 500 ETF, iShares Core S&P Total US Stock Market ETF, Vanguard Total Stock Market ETF, and State Street’s SPDR Portfolio S&P 1500 Composite Stock Market ETF.
The lineup shows the program will begin with a broad US equity index strategy before allowing families to switch among other low-cost stock-market funds.