A Bloom filter with >500M items, even when allowing for a comparatively high rate of false positives such as 1 in 100, is still in the hundreds of MBs, which would not be that much more accessible than the actual dump files.
75% space savings, with no decompression necessary for use, and a 1 in 14 million false positive rate is nothing to sneeze at.
For these purposes, however, you probably instead want to store just separate Bloom filters for counts above different thresholds, since the common use case would be accept/reject decisions based upon a single threshold.