Cathie Wood has thrown her support behind Trump Accounts, the government-backed investment program for children that goes nationwide in July. The ARK Invest CEO encouraged parents and grandpa
Cathie Wood has thrown her support behind Trump Accounts, the government-backed investment program for children that goes nationwide in July.
The ARK Invest CEO encouraged parents and grandparents to open the accounts for eligible kids in a May 28 post on X.
"Check out this Administration's Invest America accounts which will help your loved ones catch and ride the financial wave of this technology revolution." Wood wrote in a May 28 post.
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Trump Accounts were created under the One Big Beautiful Bill Act as tax-advantaged investment accounts for Americans under 18.
Children born between Jan. 1, 2025, and Dec. 31, 2028, qualify for a $1,000 government-funded seed deposit. On top of that, parents, relatives, employers, and charities can contribute up to $5,000 a year.
The money goes into a low-cost index fund built for long-term growth, and the child takes control of the account at 18.
Wood's endorsement lands as the Treasury Department rolls out the Trump Accounts app nationwide ahead of the official July 4 launch.
Treasury Secretary Scott Bessent said the program is meant to make it easier for families to contribute and track their investments. Robinhood and BNY helped build the platform.
Treasury Secretary Scott BessentWood is one of Wall Street's most closely watched investors on disruptive technology. Before founding ARK in 2014, she managed more than $5 billion in global thematic strategies at AllianceBernstein.
She is also one of Bitcoin's loudest institutional backers. Earlier this week, she raised ARK's long-term Bitcoin outlook, projecting $750,000 in a base case and $1.25 million in a bull case over the next five years.
"We do think there is an asset allocation shift beginning towards Bitcoin and other crypto assets. The biggest reason is institutional adoption."said Wood, in a May 25 interview
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