None at all – they’re just different ways of expressing the same thing.
The second form is only available in a variable declaration, however. For example, you cannot write:
foo.someMethod({x, y});
but you can write:
foo.someMethod(new SomeType[] { x, y });
The relevant bit of the Java language specification is section 10.6 – Array Initializers:
An array initializer may be specified in a declaration,
or as part of an array creation expression (ยง15.10), creating an array and providing some initial values: