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Lightly butter a 9- by 13-inch baking pan. Layer the donuts in an even thickness in the pan. Distribute the raisins over the top, if using. Drizzle evenly with the butter.
Make the custard: In a medium bowl, whisk together the sugar, eggs, cream, vanilla, and cinnamon. Whisk in the butter. Pour over the donuts. Let sit for 10 to 15 minutes, periodically pushing the donuts down into the custard. Cover with foil.
When ready to cook, start the Traeger on Smoke with the lid open until the fire is established (4 to 5 minutes). Set the temperature to 350F and preheat, lid closed, for 10 to 15 minutes.
Bake the bread pudding for 30 to 40 minutes, or until the custard is set. Remove the foil and continue to bake for 10 additional minutes to lightly brown the top.
Let cool slightly before cutting into squares. Drizzle with melted ice cream, if desired. Enjoy!