Gather your ingredients together and set to the side. Place trivet in the bottom of the inner pot in the Instant Pot. Add 1 cup of water to the inner pot.
Prepare a 7.5 inch springform pan by wrapping aluminum foil around the bottom to protect from water getting into the pan. Spritz the inside of the springform pan with nonstick cooking spray.
In a medium bowl, beat cream cheese until soft and creamy. Add the sweetener and continue beating until fluffy, about 2 minutes. Add the eggs and vanilla and beat just until combined.
Transfer the mixture to the springform pan and spread evenly.
Cover the springform pan to avoid water dripping onto the cheesecake. Place the springform pan into the Instant Pot. Put the lid on and close it. Set the valve to sealing. Program for manual or “Pressure Cook” for 20 minutes.
When done cooking, allow the Instant Pot to naturally release the pressure (about 10 minutes). Remove the lid and allow the cheesecake to continue cooling inside the pressure cooker for 20 minutes before removing.
Replace the aluminum foil with plastic wrap and refrigerate the cheesecake for at least 2 hours prior to serving.
Cut the cheesecake to make 8 servings. Serve with natural fruit preserves or fresh fruit.