Theta GEN VIII and Sigma SSP

Can I use the Spdif out from my Sigma SSP and keep everything in the digital domain into an external dac, Or am I going to get sonic oddities due to the folding or downmix process,

I am not after a downmix but a discrete Left and right digital out.

Very nice stereo dac, with it’s own volume control (no preamp needed), looks to have the last best 4 x AD (Analog Devices) R2R Ladder dac chips in it, just can’t make out the nos.
:Design: Two-channel DAC/Preamp with new 24/192 DAC chip
:D/A Conversion: 24-bit Ladder (8x Oversampling). 2 DACs per Channel (Differential Operation)
:Dynamic Range: 132 dB

Cheers George