Add the breadcrumbs and milk to a bowl. Let it sit for a minute or two until the bread absorbs the milk.

Add the eggs, ketchup, onion soup mix, and ground beef. Mix until combined well.

Create a foil bowl to hold the meatloaf. I used the inner pot as a guide to get the foil the right shape. Next, I folded the edges inward to make it smaller than the IP pot. Make sure the sides of the foil bowl are at least 1 inch tall to hold in the juices and grease.

Tip the meatloaf mixture into the foil bowl and shape it into a loaf. Add 1-1/2 cups of water to the inner pot of the Instant Pot.

Place the meatloaf on top of the rack that comes with the Instant Pot. Use the handles of the rack to lower it into the Instant Pot.

Combine the ingredients for the glaze then brush half of the glaze on top of the meatloaf.

Secure the lid and place the valve in the sealed position.

Cook on high pressure for 30 minutes.

Allow the Instant Pot to release pressure naturally for 10 minutes then release the rest of the pressure manually.

Use a bulb baster to suction all the grease of the foil bowl then transfer the meatloaf to a baking sheet.

Spread the rest of the glaze on the meatloaf and broil it for 5 minutes to get the glaze sticky.