Treasury Taps State Street's SPYM as Default for 'Trump Accounts'; Micron Pledges $250M to Program
- Micron announced a $250 million investment in the federal 'Trump Accounts' (530A) program, the largest single corporate commitment to date, including up to $1,000-per-child employee matching and $250 seed deposits in communities where it operates (NYT).
- The pledge piles onto the Treasury-launched program using State Street's SPYM ETF as its default investment vehicle, due to go live July 4.
- Micron framed the move as supporting US semiconductor workforce development, though the program's mandatory default in SPYM means most of the capital flows into broad large-cap US equities.