Saving for children’s future

My wife and I recently had our first child and I received $10000 dollars from my parents to invest for my daughter’s future. I am wondering what I should be investing this money in with a 18-20 year time horizon before she will need this money (college, wedding, down payment on a house or investing into her Roth IRA) I was looking into both 529 accounts or an utma.

I’m leaning toward the 529 knowing that if she doesn’t end up going to college she can roll it into a Roth IRA.

I am also not sure what I should be investing in with just an 18-20 year time horizon.

Any thought or suggestions are helpful! Thanks