A noncontact ECG is applicable to wearable bioelectricity acquisition because it can provide more comfort to the patient for long-term monitoring. However, the motion artifact is a significant source of noise in an ECG recording. Adaptive noise reduction is highly effective in suppressing motion artifact, usually through the use of external sensors, thus increasing the design complexity and cost. In this paper, a novel ECG electrode structure is designed to collect ECG data and reference data simultaneously. Combined with the adaptive filter, it effectively suppresses the motion artifact in the ECG acquisition. This method adds one more signal acquisition channel based on the single-channel ECG acquisition system to acquire the reference signal without introducing other sensors. Firstly, the design of the novel ECG electrode structure is introduced based on the principle of noise reduction. Secondly, a multichannel signal acquisition circuit system and ECG electrodes are implemented. Finally, experiments under normal walking conditions are carried out, and the performance is verified by the experiment results, which shows that the proposed design effectively suppresses motion artifacts and maintains the stability of the signal quality during the noncontact ECG acquisition. The signal-to-noise ratio of the ECG signal after noise reduction is 14 dB higher than that of the original ECG signal with the motion artifact.