Robinhood Markets shares rose about 1.06% after Treasury named BNY Mellon as financial agent for the new Trump Accounts program.
BNY Mellon shares gained roughly 1.14% as it will manage initial accounts and develop the white‑label Trump Accounts application.
Robinhood will serve as brokerage and initial trustee, while the Treasury retains control over the app and its operations.
The program aims to ensure every eligible child can access a Trump Account, with UI designed by National Design Studio and Robinhood.