Rinse the beans, remove any debris (no need to soak). Set aside.
Set the Instant Pot to the sauté setting, spray with cooking spray (or use water sauté method, if preferred) and add diced onion. Sauté until tender, about 5 minutes.
Add remaining ingredients, and cook on high pressure for 55 minutes.
Natural release for 20 minutes, and quick release any remaining pressure. Allow to cool a bit.
Drain and reserve at least a cup of cooking liquid. Return drained beans to the Instant Pot. Start with adding back about 3/4 cup of cooking liquid to the beans, and puree with an immersion blender. Note: Texture will be soupy while warm. It will thicken as it stands, and thicken significantly more after refrigeration.