The U.S. Treasury on Wednesday announced the investment lineup for Trump accounts, which includes ETFs from State Street, BlackRock and ‌Vanguard.

All contributions to Trump accounts ​will be invested in the State Street SPDR Portfolio S&P 500 ⁠ETF (SPYM), which will serve as the ​program's default investment option during the launch, the ⁠U.S. Treasury said.

The Treasury also selected BlackRock's iShares Core S&P 500 ETF (IVV) and iShares Core ‌S&P Total U.S. Stock Market ​ETF (ITOT), State Street ‌SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM) and ‌Vanguard Total Stock Market ETF (VTI).

"By giving younger Americans the opportunity to start investing ⁠earlier, Trump Accounts ‌can help millions ⁠build long-term financial security," BlackRock Chairman and CEO ⁠Larry Fink ⁠said.

Under the scheme, the U.S. Treasury will deposit $1,000 as ‌seed money into an investment account for each child with a valid Social Security number ‌born ​between 2025 ‌and 2028.

Many investment firms and corporations, including BlackRock, said they would match ​the U.S. government's $1,000 contribution for their employees.