That's how I do my coco, I'm honestly not sure why now that I think about it. They always get fed before the first true leafs start to fade, but I don't see what it would hurt if the medium was already moist with a light nutrient concentration.
In soil I don't feed until about a month or more. The cotyledons will still whither in a week or 2, but there's no deficiency it's just letting them go. I make my own mix of what I guess you could call a super soil when I do soil. But typically I'm in coco.