BTC vs BTC-USD

I am considering purchasing BTC-USD through Fidelity, mostly because I think this is the easiest way to get exposure to BTC. My intent for the purchase is to make a long-term investment: buy and hold for 10-20 years then sell at a (hopefully) profit. I have no intention of using bitcoin for purchasing or receiving goods. This is strictly an investment for a small part of my portfolio.

Based on the above, are there any practical differences between BTC-USD and owning actual bitcoin? The BTC-USD action seems to mimic Bitcoin. What advantages - if any - would there be to setting up a wallet and owning bitcoin; and conversely, what are the disadvantages of my proposed approach?