Turn the Instant Pot on and turn it to "sauté" mode. Allow it to heat up for about 1 minute.
Then drizzle enough olive oil to lightly cover the base. Add shallots and sauté until translucent, about 1 minute.
Next sprinkle in garlic powder and combine with the shallots.
Add in the arborio rice and immediately stir to ensure it does not burn. You do want the rice to toast slightly.
Once the rice is lightly toasted, deglaze the pot with the dry white wine.
Use a wooden spoon or spatula and scrape any bits of onion or rice that are stuck to the bottom.
Add the vegetable broth and combine well.
Place the lid on the Instant Pot and set the vent to "Sealing."
Cancel the sauté function. Then, press the pressure cook function (on high pressure) and set the timer to 5 minutes.
After the Instant Pot comes to pressure and then pressure cooks for 5 minutes, use the natural release method for 10 minutes.
To do the natural release, simply do not turn the vent to venting and keep it in the sealing position. The Instant Pot will slowly release pressure after the 5 minute timer ends.
After the 10 minutes of natural release, the floating pin should drop.
If it hasn't dropped–don't worry. You can move the vent to venting and release the remaining pressure.
Once the pin has dropped, remove the lid from the Instant Pot. The rice should be fully cooked and absorbed about 98% of the liquid
Stir the cooked risotto and make sure nothing is sticking.
Turn the Instant Pot to the "Keep Warm" function.
Add the vegan butter and the raw spinach.
Combine the spinach with the hot risotto until the spinach has fully wilted.
Season with salt to your liking, add to a bowl, and enjoy!