In a small skillet, melt 2 tablespoons of butter over medium heat. Add the shallot and sauté until tender, about 5 minutes. Transfer to a bowl and cool. Add the remaining butter to the shallot and stir until smooth. Mix in the prosciutto and basil. Season to taste with salt and pepper.
Cook the corn in a large pot of boiling salted water until crisp-tender, about 3 minutes; drain and cool. Cut the corn off the cobs and transfer to a saucepan. Add the flavored butter and heat until melted and heated through.
Notes
If preparing this recipe as GLUTEN FREE, just make sure that the prosciutto you're using is free of gluten.
Make ahead tip: Step one may be prepared 3 days ahead. Cover and refrigerate. Let stand 2 hours at room temperature before using.)
Alternately you can try grilling the corn instead of boiling it. Soak the corn in water for about 20 minutes, then place it on a hot grill just until it gets a few char marks on all sides.