Turn Instant Pot to sautee mode for 10-15 minutes. Melt oil and butter together. Add diced red and green bell peppers. Saute for 5 minutes. Add the diced yellow onions and saute with peppers for 5 more minutes. Add garlic for another 5 minutes.
Place chicken breasts on peppers and onions. Pour all remaining ingredients over the chicken.
Using the Manual Pressure setting, set on high for 20 minutes and allow for natural pressure release.
Remove chicken, shred, and add back into the mixture and serve with optional toppings.
Revisit Instant Pot Chicken Fajita Soup at https://farmtablerecipes.com/easy-instant-pot-chicken-fajita-soup-recipe/ last printed on January 30, 2019