Preheat oven to 325 degrees F.
Grease the donut pan with baking spray or melted butter.
In a large bowl, combine the milk, eggs, vanilla bean paste, sugar, unsalted melted butter, and whisk until smooth.
Add the all purpose flour, baking powder, baking soda, salt, and whisk until everything is well combined.
Place the batter into a piping bag and then fill each slot in the donut pan a little more than 3/4s full.
Bake for 9 minutes or until fully cooked through.
While the donuts bake, prepare the glaze.
Pour the milk, powdered sugar, and vanilla extract into a medium saucepan.
Cook over medium high heat continuously whisking for 2 minutes or until the powdered sugar is completely dissolved.
Place the glaze in a medium sized bowl.
Let the glaze and donuts cool for about 1-2 minutes before glazing.
Dunk the donuts into the bowl of glaze 2-3 times and then top with sprinkles if desired.