Only way thats going to hold anything against cutting forces is if you tap tight fitting sleeve, or better, shrink fit, over the extended part after you've put the cutter in.
A semi permanent job. Which might be worth it if you have a suitably hefty cutter, flycutter, boring head or whatever on a 25 mm shaft sitting around doing nowt.
Considerable risk of the collet snapping where the taper runs out into the extended part.
Better to get a sidelock (weldon) holder and grind a flat on the cutter. At least the holder is all solid.
Although I have full sets of R8 in both imperial and metric I'm rapidly coming to the conclusion that sidelock is the better way for plain shank cutters. But Clarkson is my general purpose go to as I have plenty of screwed shank cutters.
Clive