Turn Instant Pot onto saute mode, and add the olive oil. Once hot, add the beef pieces, and brown on each side, a few minutes a side. Once a brown crust forms, remove and set aside on a plate.
To the same oil, add the onion. Saute 2-3 minutes until browned, then add the garlic cloves and all the spices (cumin, oregano, salt, pepper, paprika ). Stir and cook a minute or so until fragrant.
Add the beef broth, scraping up the bottom of the Instant Pot for any residue (to avoid getting a burn notice) as well as the chipotle pepper and sauce, white vinegar, lime juice, soy sauce, Worcestershire, and bay leaves. Stir to combine well.
Select high pressure and cook for 60 minutes (make sure valve is sealed before you start). Once cooking time is over, either wait until pot naturally releases all the pressure before opening, or wait 15-20 minutes and force release the pressure.
Use two forks, and shred the beef. It should shred very easily. Serve in the sauce, either over rice, or in tacos.