Place a steamer insert into a saucepan and fill with water to just below the bottom of the steamer. Bring water to a boil. Add asparagus cover, and steam until desired tenderness is achieved, 6 to 9 minutes.
Meanwhile, melt butter in a small saucepan over medium-low heat. Add garlic and heat until fragrant, about 2 minutes. Stir in olives and lemon juice; heat thoroughly, but do not boil, 3 to 4 minutes. Season with salt and pepper and set aside.
Place steamed asparagus in a serving dish and pour sauce on top. Garnish with lemon zest and serve warm.