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Trim any silverskin from the tenderloins with a sharp knife.
Combine the melted butter and the hot sauce and roll the tenderloins in the mixture.
When ready to cook, start the Traeger grill on Smoke with the lid open until the fire is established (4 to 5 minutes). Set the temperature to 400F and preheat, lid closed, for 10 to 15 minutes.
Arrange the tenderloins on the grill grate and grill for 6 to 8 minutes per side, rolling with tongs, or until the internal temperature is 145F when read on an instant-read meat thermometer. (The pork will still be slightly pink in the center. If you prefer your pork well-done, cook it to 160F.)
Transfer the tenderloins to a cutting board. Let rest for several minutes before carving on a diagonal into 1/2-inch slices.