In a microwave safe mug melt milk on high for about 30 seconds or until fully melted. Set aside
In a large blender combine milk powder and monkfruit.
In another microwave safe mug microwave water on high for 1 minute or until water is boiling
Pour boiling water to blender. Add melted butter. Blend on low for 30 seconds to 1 minute or until smooth, thick and syrupy. Scrape down the sides of the blender as needed
If mixture is too thick to pour add up to 4 TBS very hot water and blend for another 30 seconds to 1 minute or until the consistency is the same as traditional sweetened condensed milk.
Let cool to room temperature. Use immediately or store in an airtight container in the refrigerator for up to 1 week. Milk will thicken as it cools
If storing for more than 24 hours stir daily with a fork to make sure ingredients stay combined.