Many healthcare and lifestyle applications could benefit from capacitive measurement systems for unobtrusive ECG monitoring. However, a key technical challenge remains: the susceptibility of such systems to motion artifacts and common-mode interferences. With this in mind, we developed a novel method to reduce various types of artifacts present in capacitive ECG measurement systems. The objective is to perform ECG reconstruction and channel balancing in an automated and continuous manner. The proposed method consists of a) modeling the measurement system; b) specifically parameterizing the reconstruction equation; and c) adaptively estimating the parameters. A multi-frequency injection signal serves to estimate and track the variations of the different parameters of the reconstruction equation. A preliminary investigation on the validity of the method has been performed in both simulation and lab environment: the method shows benefits in terms of common-mode interference and motion artifact reduction, resulting in improved R-peak detection.