It depends on the overall flavor profile you're looking for, though adding liquids to the foil won't do a lot for flavor of the meat, unless you later degrease it and use it as a base for a finishing sauce. You will have some meat drippings to add to the flavor of the finishing sauce with this method. If you could catch all the drippings during the smoke, degrease and use for a sauce-base is the best way to go.
For pork, I've used OJ for the slight tang of citrus with a milder flavor, lemon juice for the same, but the lemon flavor is stronger, yet seems to go well with almost anything. Apple is a very good match for pork, especially ribs. BTW, if you haven't tried powdered apples (ground, from dried) in your pork dry rubs, you should. I have a Cherry/Balsamic wet rub for pork ribs that's great as well.
For beef, lemon juice, worsty sauce, red wine, rum or other distilled spirits, or balsamic vinegar can add more enhancement and depth for the flavor of your sauce-base.
Most often than not, if I foil or pan/tent, I add nothing at all for liquids, going more for the natural flavors of the meat and smoke, enhanced only by dry rub. The natural moisture in the meat will slowly escape and steam the meat when foiled, and there's always plenty to do the job when I want a really tender rib.
As of late, I don't foil much anymore...straight open grates, using a wet to dry smoke chamber humidity for a good balance of smoke reaction, bark and retained interior moisture. Tenderness can be varied with cooking temp and times, looking for pull-back and using the bend-test as the main indicators for the desired amount of tenderness.
Butter is something I haven't tried, though I can imagine the richness it would add would be great with leaner cuts and lean trimmed ribs.
Eric