It is confirmed that the beta testing of Club Penguin Island will end before the 17th of January 2017. This screenshot, found on Apple’s website, states that invites will only be available for 60 days. The beta emails were first sent out on the 18th of November, however there will be more sent out tonight.
Do bare in mind that Disney can choose to end beta testing before that date. This is just the latest they have to gather feedback. After that, it’ll probably take a few weeks and then the game will be launched! Many beta-testers are simply saying that there’s no bugs, but the game crashes every now and then. Either that, or the game might go into an open beta.