I don’t have that exact setup but something somewhat similar. My Bluesound Node is connected via its analog outputs (using the internal DAC) to one line-level input on my Rega io, and the Node’s coaxial digital output (which is always live) is connected to my Schiit Modi 3+ DAC, which in turn is connected to the other line-level input on the io. I can switch between the two inputs using the io’s remote.
The relevant point here is that your proposed setup will work fine as long as both the USB and AES/EBU outputs on your streamer are always live. The owner’s manual for your streamer should have info on that issue.