Robinhood Up 2.5% After BNY Trump Deal

Robinhood Markets shares jumped about 2.5% after Treasury appointed BNY Mellon as financial agent for the new Trump Accounts program.
BNY Mellon will manage initial accounts and co‑develop the white‑label Trump Accounts app, while Robinhood serves as brokerage and initial trustee.
The Treasury Department will retain control over the app and aims to ensure every eligible child can access a Trump Account.
BNY Mellon shares rose roughly 1.1% on the same news.