diff --git a/src/validation.cpp b/src/validation.cpp
index 1efe109b6f6..59654c9d193 100644
--- a/src/validation.cpp
+++ b/src/validation.cpp
@@ -2858,7 +2858,8 @@ static void UpdateTipLog(
     const CBlockIndex* tip,
     const std::string& func_name,
     const std::string& prefix,
-    const std::string& warning_messages) EXCLUSIVE_LOCKS_REQUIRED(::cs_main)
+    const std::string& warning_messages,
+    const bool background_validation) EXCLUSIVE_LOCKS_REQUIRED(::cs_main)
 {
 
     AssertLockHeld(::cs_main);
@@ -2869,7 +2870,7 @@ static void UpdateTipLog(
                    tip->GetBlockHash().ToString(), tip->nHeight, tip->nVersion,
                    log(tip->nChainWork.getdouble()) / log(2.0), tip->m_chain_tx_count,
                    FormatISO8601DateTime(tip->GetBlockTime()),
-                   chainman.GuessVerificationProgress(tip),
+                   background_validation ? chainman.GetBackgroundVerificationProgress(*tip) : chainman.GuessVerificationProgress(tip),
                    coins_tip.DynamicMemoryUsage() * (1.0 / (1 << 20)),
                    coins_tip.GetCacheSize(),
                    !warning_messages.empty() ? strprintf(" warning='%s'", warning_messages) : "");
@@ -2886,7 +2887,7 @@ void Chainstate::UpdateTip(const CBlockIndex* pindexNew)
         // Only log every so often so that we don't bury log messages at the tip.
         constexpr int BACKGROUND_LOG_INTERVAL = 2000;
         if (pindexNew->nHeight % BACKGROUND_LOG_INTERVAL == 0) {
-            UpdateTipLog(m_chainman, coins_tip, pindexNew, __func__, "[background validation] ", "");
+            UpdateTipLog(m_chainman, coins_tip, pindexNew, __func__, "[background validation] ", "", /*background_validation=*/true);
         }
         return;
     }
@@ -2909,7 +2910,7 @@ void Chainstate::UpdateTip(const CBlockIndex* pindexNew)
         }
     }
     UpdateTipLog(m_chainman, coins_tip, pindexNew, __func__, "",
-                 util::Join(warning_messages, Untranslated(", ")).original);
+                 util::Join(warning_messages, Untranslated(", ")).original, /*background_validation=*/false);
 }
 
 /** Disconnect m_chain's tip.
@@ -5520,6 +5521,19 @@ double ChainstateManager::GuessVerificationProgress(const CBlockIndex* pindex) c
     return std::min<double>(pindex->m_chain_tx_count / fTxTotal, 1.0);
 }
 
+double ChainstateManager::GetBackgroundVerificationProgress(const CBlockIndex& pindex) const
+{
+    AssertLockHeld(GetMutex());
+    Assert(HistoricalChainstate());
+    auto target_block = HistoricalChainstate()->TargetBlock();
+
+    if (pindex.m_chain_tx_count == 0 || target_block->m_chain_tx_count == 0) {
+        LogDebug(BCLog::VALIDATION, "[background validation] Block %d has unset m_chain_tx_count. Unable to estimate verification progress.", pindex.nHeight);
+        return 0.0;
+    }
+    return static_cast<double>(pindex.m_chain_tx_count) / static_cast<double>(target_block->m_chain_tx_count);
+}
+
 Chainstate& ChainstateManager::InitializeChainstate(CTxMemPool* mempool)
 {
     AssertLockHeld(::cs_main);
diff --git a/src/validation.h b/src/validation.h
index 729cdbaa147..cee0dd728b3 100644
--- a/src/validation.h
+++ b/src/validation.h
@@ -1194,9 +1194,15 @@ public:
     /** Check whether we are doing an initial block download (synchronizing from disk or network) */
     bool IsInitialBlockDownload() const noexcept;
 
-    /** Guess verification progress (as a fraction between 0.0=genesis and 1.0=current tip). */
+    /** Guess verification progress (as a fraction between 0.0=genesis and 1.0=current tip).
+    * This is also the case in the assumeutxo context, meaning that the progress reported for
+    * the snapshot chainstate may suggest that all historical blocks have already been verified
+    * even though that may not actually be the case. */
     double GuessVerificationProgress(const CBlockIndex* pindex) const EXCLUSIVE_LOCKS_REQUIRED(GetMutex());
 
+    /** Guess background verification progress in case assume-utxo was used (as a fraction between 0.0=genesis and 1.0=snapshot blocks). */
+    double GetBackgroundVerificationProgress(const CBlockIndex& pindex) const EXCLUSIVE_LOCKS_REQUIRED(GetMutex());
+
     /**
      * Import blocks from an external file
      *