Preheat instant pot to sauté setting on high.
Add 1 tablespoon of olive oil to instant pot. Add onion, and red bell pepper to the instant pot. Cook over high sauté setting, stirring constantly until onions are golden and red bell peppers are tender about 5 minutes.
Add garlic and sauté until fragrant, about 2 minutes. Season with salt and pepper.
Add butternut squash, black beans, Italian seasoning, allspice, and bay leaves
Stir in coconut milk, vegetable broth, and bouillon cube. Make sure all ingredients are well mixed. Follow the manufacturer’s guide for locking the lid. And cook on soup setting.
Allow pressure to release naturally. Careful of any remaining steam. Unlock and remove the lid.
Add spinach, replace the lid and let cook under the heat about 3 mins. Serve with rice. Enjoy