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Pour 1 cup of water into the Instant Pot insert and place the handled trivet on the bottom. Place the eggs in a single layer on top of the trivet. Secure the lid and move the steam release valve to "SEALING. Select "MANUAL/PRESSURE COOK" to cook on high pressure for 5 minutes for completely hard-boiled eggs (4 minutes for runny yolks).
While the eggs are cooking, fill a large bowl with ice and water to create an ice water bath for the eggs.
FOR FULLY HARD-BOILED EGGS: Once the cooking cycle has ended-- let the pressure naturally release for 5 minutes, then move the steam release valve to "VENTING" and release the remaining pressure. Then transfer the eggs to an ice water bath.
FOR RUNNY YOLK EGGS: After the cooking cycle ends you will immediately move the release valve to "VENTING" to quickly release the pressure. When the floating valve drops, remove the lid and transfer the eggs to the ice water bath.
For either method, let the eggs cool in the ice water bath for 5 minutes, then peel and serve, or store them in an airtight container in the fridge for 1 week. The eggs will be easiest to peel when they are being removed from the water bath. The shells should slip off easily after a quick crack.