There are two aspects to Monetization. The profile, and the track. In terms of the Profile, once you opt in to get your profile monetized it will take about 3-5 days for the profile to have the ability to monetize tracks. Sometimes it is quicker but from what we have seen this is the usual time frame.
In regards to the track, once your profile has the "Monetization" enabled you click on "Edit Track" and if you see a "Monetization" tab, then you are able to enter the proper details such as ISRC, Publisher Info, etc... to effectively monetize your track(s). From there it may take 3-5 additional days for that track to be monetized as it has to clear publishing from Soundcloud's side.
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