Select the “Sauté” function on the Instant Pot® and add butter once hot. Add onion and season with salt and black pepper, to taste. Cook, stirring occasionally, until onions develop a bit of color and soften, approximately 4-5 minutes. Add garlic and sauté for an additional minute.

Pour in broth and deglaze the bottom of the pot, gently scraping up any brown bits off the bottom of the pot with a wooden spoon in the process. Turn unit off.

Add asparagus and bay leaf, and stir to combine. Add lid and lock into place. Position the vent to “Sealing” and set the “Manual” setting to 5 minutes.

When cook time is complete, allow pressure to release naturally for 10 minutes, then manually release any remaining pressure. Remove lid and discard bay leaf.

To prevent curdling, temper the heavy cream by adding a small amount of the hot liquid to it before stirring it directly into the pot. Stir to combine.

Carefully transfer asparagus mixture to a food processor or high-powered blender and process until smooth. To serve, transfer hot or chilled soup to individual bowls and garnish with a few drops of heavy cream and a couple reserved asparagus tips, if desired. Enjoy!