Combine vanilla protein powder and milk in a small bowl. Mix together and let sit for about 5-10 minutes. Don't worry about the foul smell coming from this bowl. Protein smells pretty nasty, but I promise it doesn't not carry on into the recipe!
Combine butter and honey in the bowl of a stand mixer and mix on medium high, gradually adding protein mixture and honey. Once all ingredients are combined, it's possible that everything will start to separate. This is normal. Just continue to mix, and within about five minutes or so, the butter will come back together and form a whipped butter.
Enjoy on muffins, breads, pancakes, etc.