The White House touted the launch of Trump Accounts Monday, announcing that millions of families had signed up to hold the specialized deposit accounts since they became available on July 4.

Under the program, parents can open special investment accounts for any child born during Trump’s second term and automatically receive $1,000 from the government. Accounts can be opened for older children — as long as they don’t turn 18 before the end of the calendar year — but they will not receive the $1,000. The accounts were set to open for deposits July 4, which was also the day the Treasury Department plans to transfer the $1,000 bonus.

Treasury Secretary Scott Bessent said that 86% of the 6 million signed up came from families earning less than $200,000.

Speaking to Scripps News on Monday, Bessent said the program could be the first time a large segment of U.S. households have investments in the market.

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