Not really.
There are a bunch of products which will all give you equally well lossless transmission of audio.
Here are a few:
The Hifime S2 Digi is an optical in/out device. It has an optical SPDIF input and also an output which can both be used at the same time.
hifimediy.com
The UT23 connects to your computer via USB and sends out an optical SPDIF signal. There is no DAC involved, just the USB to optical feature.
hifimediy.com
Foshan ShuangMuSanLin electronics Co., LTD. founded in 2009 which located in Shenzhen, China. And our branch company VMV Technology(HK) Company Limited registered in HK in 2013. Our company is specialized in the audio DAC, stereo headphone amplifier, power amplifier, and with own R&D...
www.smsl-audio.com
HIGHLIGHT [Convert USB Port to SPDIF Transmitter] – Cubilux S/PDIF Output Adapter lets you transmit the optical audio signal from the USB Type C port of computers to soundbars, home audio system, external DAC or amplifier to enjoy 5.1 surround sound. [For Output ONLY] – This converter cannot be...
www.cubilux.com
HIGHLIGHT [Instantly Connect your USB A Devices to S/PDIF Sound System] – Cubilux USB A to S/PDIF Optical Audio Converter lets you easily connect your USB Type A laptop, computer or gaming console with sound bar, home audio system, external DAC, amplifier, preamp or speaker to enjoy lossless...
www.cubilux.com
Buy DD ddHiFi TC100S Portable Digital Interface & RC100C RCA OCC Coaxial Cable (Detachable Version of TC100-COA) on HiFiGo, and you can enjoy a year warranty and the best after-sales service.
hifigo.com
Buy DD ddHiFi TC100-COA USB-C Female to Digital RCA Coaxial Converter Audio Cable on HiFiGo, and you can enjoy a year warranty and the best after-sales service.
hifigo.com
U2 is a USB to Toslink optical and coaxial converter, suitable for PC computer, notebook, android phone(OTG), set-top box, rock 64, raspberry pi and so on, it can bring better listening experience than PC own sound card. Features Adopting the digital interface of XMOS XU208 chip solution, with...
doukaudio.com
Features With USB input and TOSLINK optical / coaxial /HDMI 12S output(can output at the same time), can work well with DAC, preamp, amplifier or speaker. Adopting XMOS XU208 chip solution, with 1000MIPS random access memory much higher than U8 (500MIPS), and more stable than Italian Amanero...
doukaudio.com
One differentiating factor is that some converters will lock your iPhone's volume at 100%, while others will still allow you to control volume via your phone's volume rocker.
All of these can be connected to you iPhone/iPad.
How you connect them depends on which converter you choose and whether your iPhone/iPad uses Lightning or USB-C.