First, you want to turn the Instant Pot on to the "Saute" setting. Put the Olive oil in and then add the beef roast.
Sear until both sides of the roast are brown, and then turn the Instant Pot off.
Add in your water, seasoning mixes, reserved juice, and the pepper rings. This all goes on top of the roast, and then add in the butter.
Put the lid on the Instant Pot and then seal the valve.
Turn the Instant Pot on "Manual" high pressure for 60 minutes.
After that is done, allow for a natural release of pressure. Serve the butter beef.