; vs = null;

;.txt

IL_0001:  newobj      UserQuery+Class..ctor
IL_0006:  stloc.0     
IL_0007:  ldloc.0     
IL_0008:  ldc.i4.3    
IL_0009:  newobj      UserQuery+MyObject..ctor
IL_000E:  stfld       UserQuery+Class.asdf
IL_0013:  ldloc.0     
IL_0014:  call        LINQPad.Extensions.Dump

Class..ctor:
IL_0000:  ldarg.0     
IL_0001:  call        System.Object..ctor
IL_0006:  ret         

MyObject.get_Value:
IL_0000:  ldarg.0     
IL_0001:  ldfld       UserQuery+MyObject.<Value>k__BackingField
IL_0006:  stloc.0     
IL_0007:  br.s        IL_0009
IL_0009:  ldloc.0     
IL_000A:  ret         

MyObject.set_Value:
IL_0000:  ldarg.0     
IL_0001:  ldarg.1     
IL_0002:  stfld       UserQuery+MyObject.<Value>k__BackingField
IL_0007:  ret         

MyObject..ctor:
IL_0000:  ldarg.0     
IL_0001:  call        System.Object..ctor
IL_0006:  nop         
IL_0007:  nop         
IL_0008:  ldarg.0     
IL_0009:  ldarg.1     
IL_000A:  call        UserQuery+MyObject.set_Value
IL_000F:  nop         
IL_0010:  nop         
IL_0011:  ret         

= null;.txt

IL_0001:  newobj      UserQuery+Class..ctor
IL_0006:  stloc.0     
IL_0007:  ldloc.0     
IL_0008:  ldc.i4.3    
IL_0009:  newobj      UserQuery+MyObject..ctor
IL_000E:  stfld       UserQuery+Class.asdf
IL_0013:  ldloc.0     
IL_0014:  call        LINQPad.Extensions.Dump

Class..ctor:
IL_0000:  ldarg.0     
IL_0001:  ldnull      
IL_0002:  stfld       UserQuery+Class.asdf
IL_0007:  ldarg.0     
IL_0008:  call        System.Object..ctor
IL_000D:  nop         
IL_000E:  ret         

MyObject.get_Value:
IL_0000:  ldarg.0     
IL_0001:  ldfld       UserQuery+MyObject.<Value>k__BackingField
IL_0006:  stloc.0     
IL_0007:  br.s        IL_0009
IL_0009:  ldloc.0     
IL_000A:  ret         

MyObject.set_Value:
IL_0000:  ldarg.0     
IL_0001:  ldarg.1     
IL_0002:  stfld       UserQuery+MyObject.<Value>k__BackingField
IL_0007:  ret         

MyObject..ctor:
IL_0000:  ldarg.0     
IL_0001:  call        System.Object..ctor
IL_0006:  nop         
IL_0007:  nop         
IL_0008:  ldarg.0     
IL_0009:  ldarg.1     
IL_000A:  call        UserQuery+MyObject.set_Value
IL_000F:  nop         
IL_0010:  nop         
IL_0011:  ret         

Code run.cs

void Main()
{
  Class myClass = new Class();
  
  myClass.asdf = new MyObject(3);
  
  myClass.Dump();
}

// Define other methods and classes here
public class Class
{
  public MyObject asdf//; or = null;
}

public class MyObject
{
  public int Value { get; set; }
  public MyObject(int value)
  {
    this.Value = value;
  }
}