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Traditional timber framing chisels, like this one (below center) by Barr Tools, feature a metal hoop around the top of the handle:
This is to prevent the handle from splitting as you pound the butt end of it with a mallet while forming a mortise. (The slick, the tool at top, is used only for paring driven by hand pressure and thus does not require the hoop.)
Every wooden-handled timber framing chisel you'll see has the hoop. But French manufacturer Arno offers this rather modern hoop-less update:
As you can see, it's just a single piece of steel. The handle is dipped in PVC to provide a no-slip grip. And the PVC stops shy of the butt end, leaving plenty of room for mallet strikes.
These run £35 to £45 (USD $42 to $54) a pop.
I’m a lapsed industrial designer. I was born in NYC and figured I’d die there, but a few years ago I abandoned New York to live on a farm in the countryside with my wife. We have six dogs.
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Arno's Modern Update to the Timber Framing Chisel
I built my own timber framed home so I've done a lot of pounding on framing chisels. I would be afraid these would damage my wooden mallets. Also, I like a big handle to grab hold of.
Looks like the PVC extends down to the area where you would want bare steel to guide the blade on deep cuts.
It's an interesting design for mass manufacture, but as @no spec above alludes, I'd want field reports of it in use: what do people's hands say? The hoop has been in use for a very, very long time and it's a good solution. Barring some other failure, hooped handles (at least on Japanese chisels) will generally last until the tool has been sharpened out of existence. They're also easy to reuse (e.g. if a handle needs to be remade) or to tweak and reset (if a handle just needs to be shortened a bit due to use and wear).
having done some timber framing, the wood handles absorb some of the shock of all those mallet pounds. not sure I'd appreciate the extra vibration, but would like the extra grip material.
I'm with you on the shock absorbing. My hammers and chisels all have wood handles - have used them all for decades.