The U.S. Treasury announced Thursday that it will accept public stock donations to new children’s investment accounts, which are set to launch Saturday and are available to all U.S. citizens under 18. More than 6 million people have signed up for the accounts, and about 1.4 million of those accounts will be eligible for a $1,000 federal seed contribution for children born between 2025 and 2028. Companies, nonprofits and state and local governments may also donate stock or cash to the accounts.

Treasury Secretary Scott Bessent said the announcement makes it easier for philanthropists to help American children build long‑term financial security. Stock donations will be transferred to the Treasury, which will then move the funds to the accounts in accordance with the donor’s instructions, applicable law and Treasury guidance, according to Treasury officials. The administration has spoken with SpaceX about donating stock to the accounts, Semafor reported. Cash contributions will be automatically invested in SPYM, the lowest‑cost S&P 500 exchange‑traded fund, officials said.

The program is intended to allow families and organizations to contribute to children's savings as the accounts become widely available. Further details on enrollment and participation are expected to be released before the Saturday launch.