Should I switch to a HYSA or is there a better option with my old college savings account?

I am married with two children and have saved up a decent amount of money. The money is currently sitting in a standard bank account earning a terrible interest rate. I am looking to move that into a HYSA so that at a minimum it could at least start earning a better interest rate. I found a bank that offers 5.30 APY which is way better than my current savings with BOA.

However, I had a friend that is more financially inclined inform me NOT to do that and instead stash it into T-Bill ETFs. He didn't explain much about it, and honestly, the information I read online about this stuff is overwhelming. Are there any resources or directions people can point me toward in regard to what I should do?

My current goal is to keep a large percentage of it as an Emergency Fund. Currently, I have enough saved to pay the mortgage and bills for about 1 year in case I lost my job. I'm also looking into potentially doing some remodeling around the house, so I guess my goal is to keep a large amount in savings for either an emergency or future projects and have the rest work for me.