Robinhood Markets Inc. (NASDAQ: HOOD) CEO Vlad Tenev said Wednesday that Trump Accounts currently offer children access to the S&P 500 through a low-cost exchange-traded fund. In an interview on CNBC’s "Squawk Box," Tenev discussed the program’s strategy, emphasizing simplicity and long-term ownership.

Tenev noted that the initial investment option is a diversified portfolio of prominent companies via a State Street ETF. He stated the goal was to make it as easy as possible for every American starting at birth to gain access to the U.S. economy and see the magic of compound interest.

"Right now you can get the S&P 500 through a low cost ETF provided by State Street," Tenev said. "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."

Program Structure and Growth

Trump Accounts are tax-deferred investment accounts for eligible children. Children born between 2025 and 2028 can receive a one-time $1,000 contribution from the U.S. Treasury. Families, employers, and other contributors can make additional contributions.

Robinhood launched its Trump Accounts app in June ahead of the program’s July 4 rollout. The app allows eligible families to activate accounts designed to invest primarily in low-cost U.S. stock index funds and exchange-traded funds.

In July, Tenev said enrollment approached 6 million, claiming growth faster than many of America’s most successful tech companies. The program has attracted corporate support, including Strategy Inc. (NASDAQ: MSTR), which pledged to contribute $250 annually to accounts for eligible children of its U.S. employees and a one-time $1,000 contribution for qualifying children born on or after Jan. 1, 2025.

Government Enrollment Goals

Internal Revenue Service Chief Executive Officer Frank Bisignano said in July that the government wants every eligible American family to enroll their children in Trump Accounts. The long-term goal is to reach 70 million children under 18.

Bisignano stated the government is working with tax-preparation companies and exploring partnerships with banks to ease enrollment. Robinhood serves as an initial broker alongside The Bank of New York Mellon Corp. (NYSE: BNY). Other companies including Coinbase Global Inc. (NASDAQ: COIN), Circle Internet Group Inc. (NYSE: CRCL), Morgan Stanley (NYSE: MS), and Goldman Sachs Group Inc. (NYSE: GS) have announced contributions or related commitments.

Robinhood Markets, Inc. (NASDAQ: HOOD) shares declined 3.17% to $93.19 on Tuesday, pressured by weaker-than-expected digital asset metrics and broader risk-off sentiment in US markets. The Nasdaq Composite fell 1.46%, while the S&P 500 dropped 0.51%, creating a headwind for growth-oriented technology stocks.

The trading platform released its operating data for July 2026 on Wednesday, revealing a sharp divergence between its traditional securities business and its cryptocurrency division. While equity and options volumes demonstrated solid growth, the crypto segment faced significant headwinds.

July 2026 Operating Data

The platform's cryptocurrency notional trading volume contracted significantly compared to the prior year period.

The 62% year-over-year drop in crypto volume to $10.9 billion highlights the volatility inherent in the digital asset segment, which has become a key revenue driver for the brokerage. This contraction stands in contrast to the stable performance of equity and options trading, suggesting a bifurcated demand environment within the user base.

Robinhood Ventures Fund II IPO

In related corporate developments, Robinhood Ventures Fund II began trading on the New York Stock Exchange under the ticker RVII on Thursday. The business development company priced its initial public offering of 8,000,000 common shares of beneficial interest at $25 per share. This pricing established an initial fund size of $225.5 million before sales loads and offering expenses.

Underwriters hold a 30-day option to purchase up to 1,200,000 additional shares. If fully exercised, this option would raise total capital to $255.5 million. RVII focuses on investing in early-stage private companies.

Technical Outlook

HOOD is currently trading in a consolidation zone, sitting below several key moving averages. The stock trades 0.8% below its 20-day simple moving average (SMA) of $94.08 and 6.2% below its 50-day SMA of $99.47. It remains 3.6% below the 200-day SMA at $96.76 but holds 5% above the 100-day SMA of $88.86.

The relative strength index (RSI) stands at 46.84, indicating neutral momentum. The moving average structure presents mixed signals: the 20-day SMA sits below the 50-day SMA, suggesting near-term bearish pressure. However, the 50-day SMA remains above the 200-day SMA following a golden cross in August, preserving the longer-term uptrend structure.

Key technical levels include:

• Resistance: $93.50, a pivot area where rebounds may face selling pressure.
• Support: $93.00, a tight floor currently being tested by buyers.

What the Numbers Show

The operating data reveals a concentration risk in the cryptocurrency segment's contribution to overall platform activity. The 62% collapse in crypto notional volume to $10.9 billion occurred alongside "solid growth" in equity and options volumes. This divergence suggests that while the core brokerage business retains user engagement, the high-margin crypto trading revenue stream is highly sensitive to market cycles, potentially impacting overall profitability despite stable traditional trading activity.