Looks like you're confused with some terms/terminology. But if you meant whether your IP could be used to track your Bitcoin activity usage, then :

Short answer : Yes, it can
Long answer :
1. Your ISP know you use Bitcoin because you connect to Electrum server without VPM/Tor
2. Electrum server could log all information of anyone who connect to itself
3. If owner of Electrum server and ISP working together, they would know all your Bitcoin wallet information (balance, address list, received/sent transaction, etc.)