I've seen a gadjet in a magazine but its very diy ! Get a 500mm piece of 110 mm pvc pipe,a 110mm vent cowl , a 110mm end cap (screw type ) a piece of s/steel square mesh.
Before you glue everything together cut your s/steel mesh to fit inside the female side of the vent cowl once that is done you can glue every thing together.
Once you've glued everything together , you can drill a couple of 15-20 mm holes in the screw cap of the end cap .
Once all that is done you can get a 1.5 - 2 m piece 5mm rope. Attach the rope to the pipe then with a caribiner you can hook the live bait holder to your ski while paddling. Hope this helps