Prepare the asparagus: Clean and cut the woody stems from the bottom of the asparagus.
Cut each asparagus spear into 3 equal sized pieces. Bundle the 3 pieces together.
Assemble: Lay a strip of bacon flat on a cutting board horizontally. Place an asparagus bundle on the left side of the bacon and tightly roll the bacon around the asparagus. Repeat for the remaining 11 asparagus bundles and bacon.
Make the glaze: In a small microwavable bowl, add the butter, brown sugar, and soy sauce. Microwave for 15-20 seconds until the butter has melted. Give the glaze a good stir.
Brush each asparagus bacon bundle with the glaze.
Preheat the air fryer to 380 Fahrenheit and set the timer for 10 minutes.
Once the air fryer is preheated, carefully add the asparagus bundles to the air fryer, bacon seam side down, and cook for 10 minutes until the bacon is crispy. Be sure to check halfway through.
Remove the asparagus bundles from the air fryer, let cool, then enjoy!