Bitcoin vs ETF, clarification?

hey all, excuse the possibly silly questions but I just wanted to get more clarification if possible: I have been looking at Bitcoin ETF and my understanding is it's basically the same as buying the coin on say an exchange, but you dont own the keys, it's still owned (held?) by the platform you trade on, but you are entitled to it like stock (shares).

so the advantage of buying it from exchange and then storing it yourself is you have control over it, you owned the keys, but that also means you can lose it, and a non-btc-versed partner or family may have no idea how to get it

if on the other hand you get the ETF, it's still reasonably safe, you dont have to store it yourself, and your partner or family will get access to it like your other assets in the event you are unable to

does that sound like a reasonable simple summary? happy to be corrected