StocksMedium•8 October 2026•
1 min read
State Street Selected as Default Manager for Trump Accounts
Key Facts
1State Street's SPYM ETF has been designated as the default investment option for Trump Accounts covering nearly 70 million children.
State Street's SPYM ETF has been designated as the default investment option for the newly launched 'Trump Accounts' program. Benzinga reported that the selection covers accounts for approximately 70 million children, providing the firm with a massive long-term captive audience.
STT closed at $174.19 on October 7, 2026, with the stock reaching a day high of $174.34 and a low of $171.17. The move is expected to significantly drive State Street's assets under management (AUM) and generate long-term fee revenue through its ETF product suite.