Close Instant Pot and set pressure to High. Cook for 15 minutes for smaller beets, 18 minutes for larger. If using very large beets, increase time to 20 or 22 minutes.
Use quick release valve to let the last of the steam escape after the cooking has finished.
Cut beets into quarters, slipping off the skin if desired. Serve hot. Keeps well if refrigerated, up to 4 days.