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I imagine there was some binding for the hilt that rotted away. Otherwise that handhold would be incredibly uncomfortable.
What’s left is just the metal portion. The part that looks like a handle it called the tang and it forms the core of the handle to provide a solid connection between the handle and the blade. It would have had a wooden grip that fit around it and then the wooden grip would have most likely been wrapped with some kind of cloth to maximize grip especially when the handle got wet.