I was really looking into this recently and wanted to share what I found... cause it's great!
Self-fusing silicone tape made by Nashua (links below)
I put this on both grip areas. Also put a piece of 1/8" x 3/8" minicell foam underneath for indexing and I love the result.
The tape is silicone so it's grippy but not too tacky. Water proof. Feels great.
Finished the end of each wrap with a single strip of electrical tape (though this may not even be necessary because the stuff really does self-fuse). An added benefit: if you decide to take it off it will leave absolutely zero residue on your shaft
Nashua Tape 1 in. x 3.33 yd. Stretch & Seal Black Self-Fusing Silicone Tape-1208952 at The Home Depot