Prepare the steak by rinsing it under cold water, patting it dry, and trimming excess fat.
Make the garlic butter by mixing softened butter, minced garlic, smoked paprika, salt, and black pepper in a bowl.
Marinate the steak by rubbing the garlic butter mixture all over it, then wrap it and refrigerate for at least 1 hour.
Preheat the grill or skillet over medium-high heat, add olive oil if using a skillet, and let the steak sit at room temperature for 15 minutes.
Cook the steak for 4-5 minutes on each side for medium-rare, adjusting time for desired doneness.
Let the steak rest for 5-10 minutes, then slice against the grain and garnish with fresh parsley.