In medium pot over medium heat, combine ketchup, vinegar, sugar, butter, Worcestershire sauce, Sriracha (if using), smoked paprika and salt.
Bring to a simmer, reduce to low. Cook, scraping bottom of pot with spatula, until thickened and reduced by half, takes about 10-15 minutes.
Let cool (sauce will thicken further as it cools).
Using a sharp knife, slice down the length of each tenderloin, almost through, to “butterfly” and flatten. Drizzle with oil and sprinkle with salt and pepper; rub to coat.
On greased grill over high heat, grill tenderloins brushing with sauce and flipping every 1-2 minutes until caramelized and cooked through (155F when meat thermometer is inserted into centre), about 10-12 minutes. Rest for 10 minutes.
Slice against the grain (like a flank steak) and serve on tacos or in soft buns with additional sauce for drizzling!
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