A fast tool change holder is provided for holding a tool adapter onto an internally delivered coolant spindle. The holder comprises an expandable split collet which can be inserted into the tool adapter and expanded in order to hold the adapter onto the spindle. The split collet has an expandable bladder therein which receives a coolant fluid from the spindle and expands under the pressure of the coolant fluid radially outwardly for expanding the split collet. The bladder enables the coolant fluid to assist mechanical and centrifugal forces associated with the split collet to hold the tool adapter onto the spindle.