From what I'm guessing they are essentially merging a custodial account like Charles Schwab offers, and saying to enroll you can do so while filling your taxes. Only kids born 2025-now would get a 1 time account opening bonus kind of like when you open a checking/savings or other promotional account.
So while they are saying the accounts are opened with money already in them that would be a vast stretch of the truth. Also since there has really only been about 5,000,000 births since 2025, the other 65,000,000 accounts they are claiming would not be eligible for getting any kind of bonus.
That said this information would be coming from Chime who is partnering with them and they do not appear to be confident in it either: https://help.chime.com/account-security-00b00e5a/taxes-7d96431b/what-is-a-trump-account-66939cc7
"The $1,000 seed contribution
Children born between January 1, 2025 and December 31, 2028 may receive a one-time $1,000 seed contribution from the U.S. Treasury. Children born before 2025 can still have a Trump Account opened but will not receive the seed contribution.
About the seed contribution: The $1,000 is paid by the U.S. Treasury — not Chime. It is not part of your tax refund and does not go to your Chime account. It goes directly into your child's Trump Account and is expected to be issued in summer 2026."