Probably not on the grizzly bit,would only leave about a 1/4" in the router. Could be bad if it came out of the collet and became a projectile!!
On Dano's link,which I need to make a fave!!, if you have a 1/4" collet,call them and see the full length of #5504,and if you have a 1/2" collet,# 7807 should be the cat's meow!!