Place one cup of water in the bottom of the Instant Pot liner.
Place a trivet in the bottom of the Instant Pot liner. This will be used to keep the steamer basket out of the water.
Place the frozen meatballs in a steamer basket and then set in the Instant Pot liner on top of the trivet.
Close and seal the Instant Pot and cook on High pressure for 5 minutes.
When the cooking is complete, perform a quick pressure release, open the lid, and remove the steamer basket. Set the cooked meatballs in a separate bowl and cover to keep warm. Press the Cancel button on the Instant Pot. and remove the trivet.
Discard the water from the bottom of the Instant Pot liner. Return the liner to the IP and press the Sauté' button. Add the jelly and BBQ sauce to the liner and whisk together. Stir often until the jelly is liquified and incorporated.
Add the meatballs back into the Instant Pot and gently stir to coat in the sauce. When the meatballs are coated, pour them into a small bowl or 2 Qt. Dutch oven. Garnish with chopped green onion then serve.