In a large saucepan, melt butter over medium. Add bok choy, onion and jalapeño. Cook and stir until tender, 5 to 8 minutes. Add liquid smoke and hot sauce, stirring to scrape up any browned bits from bottom of the pan.
Add collard greens, the water, bouillon granules, granulated garlic and black pepper. Bring to a boil; reduce heat. Simmer, covered, until greens are fork-tender, stirring occasionally, 1 to 1 1/4 hours.