Place the metal trivet or steamer basket in the Instant Pot and pour in the water.
Arrange the eggs in a single layer on the trivet. Seal the lid and set the valve to Sealing.
Pressure cook on High for 5 minutes.
Let the pressure naturally release for 5 minutes, then quick release any remaining pressure.
Immediately transfer eggs to an ice bath and chill for 5 minutes.
Gently crack and peel the eggs under running water. Refrigerate up to 1 week.
Notes
For extra-soft centers, reduce pressure cook time to 4 minutes; for firmer yolks, cook 6 minutes. Older eggs peel more easily. At high altitude, add 1 to 2 minutes cook time. Use 1.5 cups water for an 8-quart Instant Pot.