"Coaxial" in this case means SPDIF over electrical cable, as opposed to SPDIF over optical TOSLINK cable.
RCA connectors are not the ideal 75 ohms that digital transmission prefers. BNC connectors are 75 ohm, designed to work with coaxial 75 ohm cable. BNC connectors can be used as a digital audio input on a DAC, but in order to connect the DAC to a transport with RCA digital output, an adapter is needed. Impedance variation from 75 ohms can result in reflections and smearing of the digital signal which affects the sound of some DACs. The Sabre32 DAC doesn't care.