Robinhood Shares Are Rising After Hours – What’s The Trump Connection?

The US federal government is reportedly considering giving crypto firm Robinhood Markets Inc. a key role in overseeing the new “Trump accounts” it’s creating for millions of children.

• According to a report from Bloomberg, Robinhood has begun preparing internally, in case it is selected to become a trustee for the project.
• A selection is expected to be announced soon, and the Treasury Department has considered selecting as many as three firms to serve as the initial trustees.
• President Donald Trump introduced the Trump accounts last year as part of his One Big Beautiful Bill Act, offering $1,000 to children born between the start of 2025 and the end of 2028. 

The U.S. federal government is reportedly considering giving crypto firm Robinhood Markets Inc. (HOOD) a key role in overseeing the new “Trump accounts” it is creating for millions of children.

According to a report from Bloomberg, Robinhood has begun preparing internally, in case it is selected to become a trustee for the project.

Shares of HOOD popped nearly 3% during extended hours of trading on Thursday at the time of writing.

Deal Details

While Robinhood is being considered, some of the country’s largest brokerages, including Fidelity Investments and Vanguard Group Inc., have so far not been on the list of candidates considered for the initial rollout or solicited about it, the report said.

A selection is expected to be announced soon, and the Treasury Department has considered selecting as many as three firms to serve as the initial trustees, as per the report.

Trump Accounts

President Donald Trump introduced the Trump accounts last year, as part of his One Big Beautiful Bill Act, offering $1,000 to children born between the start of 2025 and the end of 2028, which can then be put into individual retirement accounts. 

Eligible investments through Trump accounts include mutual funds or exchange-traded funds that track the returns of a qualified index and that do not use leverage.

The annual fees and expenses of these funds should not exceed 0.1% of the balance of the investment in the fund. 

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around HOOD shares trended in ‘bullish’ territory amid ‘normal’ message volume. 

One user said that they don't think the app will be selected.

However, another user said they disagreed and opined that Robinhood’s app will appeal to the younger generation. 

Shares in the company have risen 107% over the past 12 months.