Thread a toggle of some kind through the head of the tool or just girth hitch a loop of paracord, and then secure the grip end with shockcord, velcro strip, etc.
I use the Mystery Ranch Scepter pack, which secures the pick end inside a sleeve with buckles that can be cinched down and then the grip end secured under the upper compression straps. Easy and secure.
Tool tubes date you! You can tuck your tools into the compression straps on the side of the pack. Or, if you have a pack with ice axe loops you can push the loop through the head of the ice tool and then clip it to the other ice axe loop with a carabiner.