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We give a randomized algorithm that approximates the number of independent sets in a dense, regular bipartite graph - in the language of approximate counting, we give an FPRAS for #BIS on the class of dense, regular bipartite graphs. Efficient counting algorithms typically apply to "high-temperature" problems on bounded-degree graphs, and our contribution is a notable exception as it applies to dense graphs in a low-temperature setting. Our methods give a counting-focused complement to the long line of work in combinatorial optimization showing that CSPs such as Max-Cut and Unique Games are easy on dense graphs via spectral arguments. Our contributions include a novel extension of the method of graph containers that differs considerably from other recent low-temperature algorithms. The additional key insights come from spectral graph theory and have previously been successful in approximation algorithms. As a result, we can overcome some limitations that seem inherent to the aforementioned class of algorithms. In particular, we exploit the fact that dense, regular graphs exhibit a kind of small-set expansion (i.e., bounded threshold rank), which, via subspace enumeration, lets us enumerate small cuts efficiently.