Robinhood stock price rises due to partnership with BNY Mellon on Trump account plan

LootboxPhobia · 2026-04-06T17:24:04+00:00

Robinhood and Bank of New York Mellon stock prices rise after the U.S. Treasury Department appoints the latter as the financial agent for the Trump account program, which will manage initial accounts and develop the application. This platform aims to help families access and manage their accounts, with Robinhood serving as the broker. The Treasury Department retains control over the application.

LootboxPhobia

2026-04-06 17:24:04

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Investing.com – Robinhood Markets (Nasdaq stock code: HOOD) and The Bank of New York Mellon (NYSE stock code: BK) shares rose on Monday, after the U.S. Treasury designated The Bank of New York Mellon as a financial agent to support the new Trump account program.

The Bank of New York Mellon will manage the initial accounts and help develop the Trump Account app. The platform is intended to allow families to access and manage their accounts. Robinhood will serve as the broker and initial trustee for Trump accounts, under a cooperation agreement with The Bank of New York Mellon.

The Treasury said the Trump Account app is under development as a custom white-label product tailored specifically for the department. The National Design Studio is working with Robinhood to create the user interface for the platform, enabling families to explore their Trump accounts.

According to the announcement, the Treasury will retain control over the app and the operation of the initial accounts. The department said the program is intended to ensure that every eligible child can access a Trump account.

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