Place one cup of cold water in the electric pressure cooker. Place the beets in a steam basket or on a steam rack in the pot.

Secure the lid and cook on high pressure for 20 minutes. After cooking, quick release the pressure. Unlock and remove the lid.

Transfer to an ice water bath and allow to cool for 10 minutes. Peel beets by gently rubbing fingers to remove peel. Slice into quarters or rounds.