The wideout from Iowa State fractured his hand during the team's second preseason game.
Butler, selected as the first pick of the fourth round, was one of three wide receivers the Cardinals drafted this year to pair with rookie quarterback Kyler Murray.
"I think just when you have his height, size, speed, that's an element that you want on your roster," Kingsbury said of Butler last week. "Unfortunately, if he's not available, it's hard to find 6-5 guys, 6-6 guys who are running sub-4.5. But other guys have stepped up."
The Cardinals also placed safety Josh Shaw on IR with a shoulder injury.