Turn your Instant Pot on to saute. Add the oil to the pot. Add the seasoned pieces of roast into the pot. Sear the beef on all sides, about 2 minutes per side. Press Cancel. Remove beef and place on a plate. Add 1/4 cup of the beef broth into the pot and deglaze.

Add the remaining 1/4 cup beef broth along with the remaining ingredients (except the bay leaves) to a food processor and blend until mostly smooth.

Return beef to pot. Pour processed mixture over the roast and turn to coat; add bay leaves. Secure lid and pressure valve. Cook on high for 60 minutes. Allow for a full natural release.

Remove and discard bay leaves. Shred beef with two forks, tossing well in the sauce to coat.

Serve in tacos, nachos, or burrito bowls. Serves 6.