This product handmade by one of our contacts. Tested to be rock solid, and v affordable ($36 + s/h). Paraphrasing the blurb below but head over to DamnYak to read more or email Chris directly: damnyak(at)gmail.com.
The Damn Yak Dry Goods Axe Holster. Simple in form, and strong to deliver. 12 oz. Veg Tanned Tooling leather. Leather is flat brass riveted on either side by hand through all layers of leather equaling 1/2" thick. The flat rivets prevent marring on your waistband as well as your axe. The holster can accommodate up to a 2" belt.
The para-cord keeper strap is 550# US made in a deep red colour. The cord lock is a US made ITW Nexus Ellipse, one of the best on the market. Para-cord can be removed if you are so inclined with no outward damage to the holster or can be left and pushed aside. The other bonus of the para-cord is its field serviceable; a new cord and lock could be easily installed without any special tools. Leather treated with US made Obenauf's LP for weather protection.
Holster does not need to be used just for axes, can be used for almost all hammers, small travel tripods, and other tools that need to be at your side with a diameter of about 2". Available now for $36 US or CAD each. Shipping will be calculated on a one on one basis (email for quote), and will be exact charges rounded up to the nearest dollar. Hit me up at damnyak(at)gmail.com