Hi, Geo,
You are right, if you use GMII, each clock transfers 4 bits, the required clock is 25MHz, the ethernet line speed is 4*25MHz=100M bps. If you use RGMII, each clock transfers 2 bits, the required clock is 50MHz, the ethernet line speed is 2*50MHz=100M bps.
I attach the schematics of FRDM-K64F, The PHY is KSZ8081, on the FRDM-K64F board, the PHY is connected to 25MHz crystal, but the PHY can generate 50MHz clock based on the 25MHz crystal and can output the 50MHz clock to the RMII_RXCLK pin, which is connected to EXTAL pin of K64, the K64 can use PLL to get high clock frequency for core/system/peripheral based on the 50MHz clock so that the core can synchronize with the ethernet module.
Hope it can help you
BR
Xiangjun rong