The loading circle is indicative that a transaction is in progress but not yet confirmed by the Ethereum network. If you've already sent a transaction, you can follow its progress on Etherscan. Once the transaction is included in a block, the spinning circle will disappear and your wallet will update to reflect the new status of your token allowances or WETH.
I submitted the transaction hours ago and it still hasn't confirmed
You can resubmit the transaction with a higher gas price. For recommended gas prices based on current Ethereum network conditions, see EthGasStation.info.