1. Place the butter in a large saucepan over medium heat.
2. Allow butter to melt completely.
3. Add the cashews.
4. Cook for 2 minutes stirring constantly.
5. Remove cashews with a slotted spoon to a piece of paper towel to drain.
6. Add the asparagus to the remaining butter in the saucepan.
7. Cook 2 minutes.
8. Pour in the water.
9. Cover the pan and cook 5 minutes.
10. Drain any excess water.
11. Place in a serving dish.
12. Sprinkle with the cashews and serve.