Streaming VideoLLMs process frames causally while visual tokens grow continuously, making compression essential for controlling prefilling latency and memory. Existing training-free methods independently rank tokens, ignoring marginal-gain interactions among retained tokens. We argue that streaming video token compression should instead be formulated as set selection, where each candidate is valued by what it adds beyond the tokens already retained. Unlike existing set-wise methods designed for offline tasks, streaming makes causal, frame-by-frame pruning decisions, so modeling cross-frame interactions requires an explicit historical reference. This creates a reference-set dilemma: the reference must adequately represent previously conveyed content while remaining bounded for real-time inference. We introduce NovaCov, to our knowledge the first training-free, plug-and-play set-wise token compressor designed for streaming video. NovaCov maintains a capacity-bounded, recency-weighted Historical Reference Bank and optimizes a dual-branch submodular coverage objective that preserves representative current-frame content while prioritizing information insufficiently covered by history. Both branches are facility-location functions, so greedy selection retains the classical (1-1/e) approximation guarantee. Across streaming and offline benchmarks, NovaCov outperforms existing training-free compression methods, retaining 99.6% of ReKV accuracy while reducing LLM prefilling latency by 46%.

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