Domain changed to archive.palanq.win . Feb 14-25 still awaits import.
!t.3fxzeyWo
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!t.3fxzeyWo No.31412602 View ViewReplyOriginalReport
Some clarity on the status of the Pokebank update:

The bank update has been submitted to Nintendo as of a few days ago.

This means that the update is complete and can technically release "at any time" -- only the internal testing phase remains, which can last as long or as short as Nintendo likes. For reference, Pokemon Sun/Moon 1.1 was submitted around December 20th.

Some less interesting technical details: the bank update is a 61.5 MB remaster, not a patch -- the difference is that a remaster updates the primary version of the title, instead of being an additional patch. When the update drops, you'll need to redownload the main pokebank title from the eshop, not the Pokemon Bank Updates patch title.

Current Pokebank is about 30 MB, the additional 31.5 MB is probably images for the new national dex feature.