The measure of voltage on a floating wire (if there were no leak) will depend heavily on the meter used. To say "it should be small" isn't really accurate... It will never read 0, and what it does read depends on the size of the resistor and sensitivity of the internal circuits in your meter. You'll never be able to tell what is real voltage and what is phantom voltage. If your meter reads 120v, it's not phantom. Anything else "small" you just don't know.
When in voltage mode you don't want the meter to actually impact the circuit you're measuring. You can't just measure voltage potential, it actually measures the current that flows between the two wires. To do this, without impacting the circuit it's measuring, it uses a very, very, very, large resistor inside between the common and voltage inputs. It measures tiny currents flowing across that resistor and then calculates voltage from V=IR. You have a known current and a known resistor, so you know voltage.
What are the phantom voltages in the tank caused by water movement, electrical noise, etc? Very, very high voltage potentials, with practically no current. Well, guess what the meter is measuring? Teeny tiny currents... Depending on the size of the resistor and the sensitivity of the circuitry in the meter, there's really no telling what the meter will read. It's going to measure whatever current is there, scale it way up and try to average out a voltage.
Read current instead. That turns the meter into a wire, no large resistor, no wacky meter behavior.
There should be a sticky created on this. Every time i hear someone measuring voltage on the tank i cringe. From an electrical engineering perspective it makes no sense at all. The only thing normal consumer volt meters can accurately mesaure on our tanks is current.