Place the metal trivet into the Instant Pot inner pot. Pour 1 cup of water into the pot. This shouldn't cover your trivet completely as the eggs should not be sitting in the water.
Arrange the eggs on the trivet. Eggs can be stacked on each other, but I have not tested this with more than 10 eggs at a time.
Close the Instant Pot lid, ensuring the valve is set to the sealing position.
Select the "Manual" or "Pressure Cook" setting, and set the cooking time to 5 minutes at high pressure. It will take some time for the Instant Pot to come to pressure before the cooking cycle begins.
While the cooking cycle is going, prepare an ice bath by filling a large bowl with ice water.
Once the cooking cycle is complete, carefully turn the valve to the venting position to release the pressure.
Open the lid, then with tongs carefully remove the eggs and add to the ice bath. This helps stop the cooking process and makes the eggs easier to peel.
After the eggs have cooled to the touch, peel them by lightly tapping or rolling them on a cutting board and then peeling the shells.