Only for the beneficiary and has a 5 year waiting period after the contribution is made and 15 years after the account is set up. And still subject to the $6500 per year contribution limit so the $35K needs to be spread out over 5+ years.
The best news is that it’s exempt from the normal Roth income limits so you can use it for high earners (eg if your kid’s income increases rapidly after starting a job). I wouldn’t be surprised to see some high income adults setting up 529 accounts with themselves as a beneficiary and transferring the money after the 5/15 year waiting period