Take the cooking spray and spray the inside of your air-fryer basket.
Open the canned biscuits and pull them apart into individual biscuits.
Place the biscuits on a flat surface or cutting board and use a small round cookie cutter or piping tip to cut the center to form the donut. (Pro tip: use the large end of a piping tip to get a perfect center cut).
Place 4 donuts at a time in the air-fryer. Add a few donut holes where you can find room, but make sure there is about 1-inch of space between donuts. Spray the donuts with cooking spray.
Cook at 350 degrees for 5 minutes, flipping the donuts halfway.
Carefully remove the donuts to a cooling rack.
Repeat the steps until all donuts and donut holes are done.
While the donuts cool, let’s make the glaze. Whisk together the melted butter, powdered sugar, vanilla, and milk in a small bowl. Whisk until smooth.
Dip donuts in the glaze and top with sprinkles. Enjoy donut warm!
