Yes. You can do custodial account for your child. You can gift your child up to 15000 per year. The first $1,100 of any investment income may be tax-exempt annually (as of 2020), and the next $1,100 is often taxed at the child’s tax bracket (generally 10 to 12 percent).
You can take the money out of the account to pay for any expenses directly related to the child such as afterschool activities, cloth, trip, etc. You do need to file fax form for the custodial account.
Custodian account, for example: https://www.fidelity.com/open-account/custodial-account
如果是炒股大牛，这样的账号早点开。如果不是，先开529，再来考虑custodian account。