I was curious about your question since I have a Bel Canto DAC 3. Looking at the manual for your DAC, one of the design features listed is "110dB dynamic range 24/192 ADC input for your analog sources." I would think that means that an analog signal going into the analog inputs is converted by an analog to digital converter, ADC, to a 24/192 digital signal which is then controlled by the same volume control as any of the digital inputs.
But that’s just conjecture on my part, I’d recommend you contact Bel Canto directly for an answer.
But that’s just conjecture on my part, I’d recommend you contact Bel Canto directly for an answer.