Spray two donut pans with coconut spray and fill each mold about 2/3 of the way.
Bake in the oven for 12-15 minutes or until lightly browned. Let donuts cool in pan for 5 minutes, and then take them out of their molds and set on a paper towel.
For glaze
Melt butter in a frying pan and then add the Swerve. Once the Swerve is fully melted, add the heavy whipping cream and vanilla, and stir over heat for roughly 5 minutes.
Remove glaze from heat. If you want a thicker glaze, wait at least 45 minutes to apply glaze. If you prefer a thinner glaze, dip each donut once in the frying pan, applying glaze to both sides. If you like donuts very sweet, you can dip each donut twice. If you are not a fan of sweet donuts, you can spoon glaze over donuts rather than dipping them in.
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Enjoy!