Pour water into your Instant Pot.
Place the steamer rack inside your Instant Pot and fill it with the meatballs.
Cook at high pressure for 5 minutes.
Let the steam release naturally, then drain your meatballs and set aside.
Discard water from your Instant Pot and pour BBQ sauce and grape jelly.
Press “Sauté” and cook for a couple of minutes, until you obtain a smooth sauce.
Add also your meatballs and stir thoroughly.
Cook for 1 more minute, then serve hot.