The CT can take any 1/4" shank bit using a rubber stop collar and sharing a 1/4" split collet EXCEPT for the carbide bits (1/16" Carving Bit & 1/8" Cutting Bit). The carbide bits can and will eventually slip with the split collet. They require a hard pressed adapter that will not slip.
The 1/16" cutting bit (itty bitty one) is a carbide bit, but the outside that makes it a full 1/4" bit is steel. Therefore, it can share the split collet.