Begin by taking your softened butter and spreading it on wax paper in an 8x8 inch square. Make sure it is an even layer. Place butter square in the fridge and allow to firm up, about 20 minutes.

While the butter is in the fridge, begin to prepare your dough. In a mixing bowl, dissolve yeast in warm water. Add in sugar, salt, milk, and egg. Stir to combine. Sift in flour and mix until everything comes together in a smooth ball.

Roll out dough to be 12x8. Place 8x8 square of butter down on one edge and gently peel back wax paper. Fold the uncovered 4 inches over half of the buttered section, and then fold the remaining buttered third over the top (think trifold brochure). Fold it twice more, until it resembles a small square.

Wrap and place in fridge for 2 hours.

Now it's time to repeat the process (without adding extra butter). Roll dough back out to 12x8 and fold gently until it is a 4x4 square. Rewrap and place back in the fridge for another 2 hours or overnight.

Once chilled, cut dough in half and roll out each half into a 20x6 inch rectangle.

Place filling in middle third of dough both pieces of dough, horizontally. Take bottom third of dough and bring it up over the filling. Bring top third over the top of that, pinching to seal.

Place on a lined baking sheet in a semicircle, seam side down. Repeat with other half. Use fingers to pinch the two pieces together to form an oval. 

Place in a warm part of your house, covered lightly with a towel, for an hour.

Preheat oven to 350 degrees and bake for 25-30 minutes, until golden brown.

In a small bowl whisk together powdered sugar and water to create icing.

Once cool, drizzle on icing and cut to serve.