Add olive oil to instapot on sauté setting. Season beef with salt and pepper and sear for 3 minutes each side.
Add the rest of the ingredients to the pot and press cook for an hour on the high pressure setting.
You can let the instant pot natural release which can take 10-15 minutes or carefully manually release the pressure (quick release) before opening pot.
Take out the tender beef and shred it with 2 forks. This will happen very easily.
Add meat back to sauce and serve.
Video
Notes
This recipe can also be cooked in a slow cooker. Sear meat on stove on all sides and then add all ingredients to slow cooker for 6 hours high and 8 hours low.