diff --git a/chrome/browser/ui/views/omnibox/omnibox_view_views.cc b/chrome/browser/ui/views/omnibox/omnibox_view_views.cc
index df2eda6c..c544137 100644
--- a/chrome/browser/ui/views/omnibox/omnibox_view_views.cc
+++ b/chrome/browser/ui/views/omnibox/omnibox_view_views.cc
@@ -1420,8 +1420,11 @@
 }
 
 bool OmniboxViewViews::ShouldShowPlaceholderText() const {
+  bool show_with_caret = base::FeatureList::IsEnabled(
+      omnibox::kUIExperimentShowPlaceholderWhenCaretShowing);
   return Textfield::ShouldShowPlaceholderText() &&
-         !model()->is_caret_visible() && !model()->is_keyword_selected();
+         (show_with_caret || !model()->is_caret_visible()) &&
+         !model()->is_keyword_selected();
 }
 
 #if defined(OS_CHROMEOS)
diff --git a/components/omnibox/common/omnibox_features.cc b/components/omnibox/common/omnibox_features.cc
index fbf4a3d..cda0d01 100644
--- a/components/omnibox/common/omnibox_features.cc
+++ b/components/omnibox/common/omnibox_features.cc
@@ -258,6 +258,14 @@
     "OmniboxUIExperimentUnboldSuggestionText",
     base::FEATURE_DISABLED_BY_DEFAULT};
 
+// Shows the "Search Google or type a URL" omnibox placeholder even when the
+// caret (text edit cursor) is showing / when focused. views::Textfield works
+// this way, as does <input placeholder="">. Omnibox and the NTP's "fakebox"
+// are exceptions in this regard and this experiment makes this more consistent.
+const base::Feature kUIExperimentShowPlaceholderWhenCaretShowing{
+    "OmniboxUIExperimentShowPlaceholderWhenCaretShowing",
+    base::FEATURE_DISABLED_BY_DEFAULT};
+
 // Feature used to enable speculatively starting a service worker associated
 // with the destination of the default match when the user's input looks like a
 // query.
diff --git a/components/omnibox/common/omnibox_features.h b/components/omnibox/common/omnibox_features.h
index 1457be7a..02b8932 100644
--- a/components/omnibox/common/omnibox_features.h
+++ b/components/omnibox/common/omnibox_features.h
@@ -9,6 +9,7 @@
 
 namespace omnibox {
 
+// TODO(dbeam): why is this list not sorted alphabetically?
 extern const base::Feature kHideFileUrlScheme;
 extern const base::Feature kHideSteadyStateUrlScheme;
 extern const base::Feature kHideSteadyStateUrlTrivialSubdomains;
@@ -45,6 +46,7 @@
 extern const base::Feature kUIExperimentWhiteBackgroundOnBlur;
 extern const base::Feature kUIExperimentUseGenericSearchEngineIcon;
 extern const base::Feature kUIExperimentUnboldSuggestionText;
+extern const base::Feature kUIExperimentShowPlaceholderWhenCaretShowing;
 extern const base::Feature kSpeculativeServiceWorkerStartOnQueryInput;
 extern const base::Feature kDocumentProvider;
 extern const base::Feature kDedupeGoogleDriveURLs;