I’m thinking you could use one Particular layer (black and white, faded spheres) as a height map for the glass effect (or some other similar effect) that refracts a white-blue-black gradient like water, then use another copy of the same Particular effect (black and white, sharp edges) as a track matte to cut it out of the background.
A single layer will likely not create a convincing effect, you’ll need several, but that is the method I would try. It would make the particles mainly shades of blue, but have white highlights and dark shadows on the edges as well. (Although real water is colorless, we tend to regard water as “blue”.)