You can get it in there. It's not an optimal situation as the tube may not fully unwrinkle itself and there is a slight risk of it chafing itself, but your only slightly oversized on the tube so it's not on the high side of risk. You also increase the chance of pinch flats since the tube is more prone to push out at the rim edge. You'll get some puncture resistance due to tube strected less.
Actually, the tube wiggling its folded surfaces on itself would turn out to be a chaffe source.